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Children in Foster Care Gain Access to Trump Accounts Under First Lady's Initiative
Vermont Treasurer Mike Pieciak says the accounts can start with $1,000 and grow into tax-advantaged savings for education, business or retirement.
- Despite policy disagreements with President Donald Trump, Vermont State Treasurer Mike Pieciak is encouraging parents to open Trump Accounts for eligible children, urging them not to "leave free money on the table."
- Established under the "One Big Beautiful Bill Act," Trump Accounts provide a $1,000 seed deposit from the U.S. Treasury for children born between January 1, 2025, and December 21, 2028.
- Tech billionaires Michael and Susan Dell are contributing $250 for children in specific ZIP codes, bringing potential initial seed money to $1,250, which Pieciak noted "will grow over time."
- Last week, First Lady Melania Trump and Treasury Secretary Scott Bessent announced an expansion to include foster youth, with 23 Republican governors pledging to facilitate state-level enrollment.
- Starting in 2027, Pieciak is promoting Vermont's "First Steps Forward" pilot, which provides a $3,200 baby bond to help children fund education, retirement, or business ventures within the state economy.
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Vermont state treasurer discusses Trump Accounts and First Steps Forward pilot
Should you open a Trump Account for your child? Vermont Treasurer Mike Pieciak says parents of eligible children should take advantage of a free savings jumpstart available through the new offering.
·Plattsburgh, United States
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