Governor Greg Gianforte announced Montana joined First Lady Melania Trump’s initiative to expand access to Trump Accounts for children in the foster care system, providing a financial foundation for young people aging out of care as they transition into adulthood.
Trump Accounts are tax-advantaged investment accounts available to every American child born between January 1, 2025, and December 31, 2028, created through the One Big Beautiful Bill. Each account is held in the child’s name and receives an initial $1,000 investment from the U.S. Department of the Treasury. Accounts function similarly to a traditional Individual Retirement Account, with the option to contribute up to $5,000 per year, and grow over time. When a child turns 18, they gain full control of the account to withdraw funds or continue investing.
The initiative, led by First Lady Melania Trump and Treasury Secretary Scott Bessent, designated accounts for foster children as “Fostering the Future Accounts.” Federal guidance issued by the U.S. Department of the Treasury, the U.S. Department of Health and Human Services and the Office of Management and Budget allowed state, territorial and tribal child welfare agencies to open accounts for children in their care.
With Montana joining the program, the Montana Department of Public Health and Human Services was recognized as the state’s child welfare agency authorized to open accounts on behalf of children and youth in foster care.
“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,” Gianforte said. “We’re committed to supporting every Montana child with the resources they need to build a strong, successful future.”
First Lady Melania Trump praised Montana’s participation. “For the first time, children in foster care will have access to a dedicated savings and investment vehicle: Fostering the Future Accounts,” she said. “I thank Governor Gianforte for pledging to expand this historic financial opportunity to youth in foster care in Montana.”
DPHHS Director Charlie Brereton called the program a tremendous investment in Montana’s youth, saying it would help foster children build real savings, develop financial skills and enter adulthood with greater stability and opportunity.
The announcement came as Montana has made significant strides in reducing its foster care population. According to DPHHS, the number of Montana children in foster care stood at 1,749 — down from more than 3,300 in early 2021, representing a 47 percent decrease since Gianforte took office. Montana also recently joined the federal “A Home for Every Child” initiative to recruit more licensed foster families and further reduce the number of children in state care.