State of Montana Newsroom
Gov. Gianforte Announces Trump Accounts for Montana Youth in Foster Care
HELENA, Mont. – Governor Greg Gianforte today announced Montana joined First Lady Melania Trump’s initiative to increase access to Trump Accounts for children in the foster care system to help build financial independence as children aging out of the system prepare for a successful transition into adulthood.
“Montana is proud to support First Lady Melania Trump’s priority to ensure children in foster care have a pathway to benefit from Trump Accounts,” Gov. Gianforte said. “While we continue our efforts to reduce the number of kids in care, we’re committed to supporting every Montana child with the resources they need to build a strong, successful future.”
Trump Accounts are tax-advantaged investment accounts available to every American child born between January 1, 2025, and December 31, 2028. The accounts created through the One Big Beautiful Bill are fully in a child’s name and receive an initial $1,000 investment from the U.S. Department of the Treasury.
The initiative announced today, led by First Lady Melania Trump and Treasury Secretary Scott Bessent, increases access to these tax-advantaged investment accounts for children in foster care which will be referred to as “Fostering the Future Accounts.” The accounts function similarly to a traditional Individual Retirement Account and grow overtime with the option to contribute up to $5,000 per year. When a child turns 18 years old, they gain full control of the account to withdraw funds or continue investments.
“For the first time, children in foster care will have access to a dedicated savings and investment vehicle: Fostering the Future Accounts. I thank Governor Gianforte for pledging to expand this historic financial opportunity to youth in foster care in Montana,” said First Lady Melania Trump.
The U.S. Department of the Treasury, the U.S. Department of Health and Human Services, and the Office of Management and Budget issued Federal guidance allowing State, Territorial, and Tribal child welfare agencies to open this type of account for any child or youth in their care. With Montana joining the initiative, the Montana Department of Public Health and Human Services (DPHHS) is recognized as the state’s child welfare agency acting as a guardian for children and youth in foster care, or their designees, as eligible individuals for the purposes of opening an initial account when a child is in foster care.
“Ensuring every child in foster care has access to a Trump Account is a tremendous investment in the future of Montana’s youth,” said DPHHS Director Charlie Brereton. “This partnership allows DPHHS to help foster youth build real savings, practice key financial skills, and transition into adulthood with greater stability and opportunity.”
Reducing the number of children in foster care and supporting Montana children is a top priority for Gov. Gianforte. According to DPHHS, the number of Montana children in foster care is 1,749, down from over 3,300 in early 2021. The reduction marks a 47 percent decrease in the number of kids in care since the governor took office.
Recently, Gov. Gianforte partnered with the U.S. Department of Health and Human Services’ Administration for Children and Families to announce Montana will be participating in the “A Home for Every Child” initiative, an effort to recruit more licensed foster families to reduce the number of children in state care.
The accounts are officially available beginning July 4, 2026. Montana parents interested in setting up a Trump Account for their child can learn more here.
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