Melania Trump and Scott Bessent Launch Fostering the Future Accounts Program
- Reports
- 12
- Developments
- 5
- Repetition
- 58%
New informationRepeats or wire copies
What happened
Melania Trump and Scott Bessent announced the launch of Fostering the Future Accounts, a program that functions as a spinoff of the Trump Accounts investment funds. The accounts are designed to give $1,000 to every newborn whose parent opens one, and they are open for contributions starting July 4. To qualify, the child must be a U.S. citizen born between January 1, 2025, and December 31, 2028.
Why it matters
The new federal guidance allows child welfare agencies to act as guardians for children in foster care to open accounts. The White House Council of Economic Advisers estimates that a 2026 birth account could reach $5,800 by age 18 and $18,100 by age 28 with no further contributions.
From nbcphiladelphia.com
Who's involved
- Melania TrumpCo-launched the program and spoke about the federal guidance.
- Scott BessentCo-launched the program and spoke about the federal guidance.
How this reaches others
Each traced step by step, with the reporting behind itHow it developed
Newest first. Tap a step to see who reported it.Trump announced the creation of the Fostering the Future Accounts program.1 source
Launch of Fostering the Future Accounts.1 source
Trump and Melania Trump announce the launch of the Trump Accounts.1 source
Investment funds launched by Melania Trump and Scott Bessent.1 source
Trump associates launch new philanthropic account program.1 source
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The entities involved
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Melania Trump
First Lady of the United States (2017–2021; since 2025)
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Scott Bessent
United States Secretary of the Treasury
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Donald Trump
American businessman and politician (born 1946), President of the United States (2017–2021; since 2025)