First Lady Unveils Groundbreaking Savings Vehicle for Foster Youth

First Lady Melania Trump announced the Fostering the Future Accounts, the United States’ first dedicated savings and investment vehicle for foster youth, aimed at asset ownership and long-term wealth building when they reach adulthood. Treasury guidance now allows state child welfare agencies to open accounts for children in foster care, with 23 governors pledging to participate and calls for nationwide funding from leaders and businesses to support all 50 states, under the One Big Beautiful Bill Act.