WHAT THEY ARE SAYING: First Lady Melania Trump Launches Fostering the Future Accounts

Key Points

• The First Lady launched Fostering the Future Accounts, a new program developed with the Treasury Department to give foster youth tax-advantaged investment and savings accounts aimed at building long-term financial stability.
• Each eligible foster youth will receive $1,000 in seed money to start their account, giving them an initial financial foundation that can grow over time through tax-advantaged investment gains.
• Governors from at least 13 states have already announced their support or pledged participation, including Arkansas, Georgia, Idaho, Iowa, Louisiana, Missouri, Montana, North Dakota, Ohio, Oklahoma, South Carolina, South Dakota, and Tennessee.
• The program is an expansion of the broader Trump Accounts initiative, originally designed without foster youth in mind. The First Lady's office pushed to include foster children in the program.