|
FOR IMMEDIATE RELEASE: June 11, 2026
CONTACT: Baylee.Watts@dss.mo.gov
State of Missouri to Explore Trump Accounts for Youth in Foster Care
JEFFERSON CITY, Mo. — Today, the Missouri Department of Social Services (DSS) announced they intend to explore opportunities with the Missouri General Assembly to make Trump Accounts available to eligible children and youth in foster care, building on the state’s recent efforts strengthen financial support and long-term stability for young people transitioning from care.
Trump Accounts are tax-advantaged investment accounts created by President Donald Trump’s One Big Beautiful Bill Act. Through the leadership of First Lady Melania Trump and her Fostering the Future platform, children and youth in foster care now have a pathway to benefit from Trump Accounts. The U.S. Department of the Treasury will now recognize State child welfare agencies 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.
“Thanks to Fostering the Future Accounts, states are now empowered to ensure that youth in foster care have the same access as every other child to build opportunity and their own American Dream,” said Governor Mike Kehoe. “Thank you to President and First Lady Trump for establishing this program and we look forward to making Trump Accounts available to the youth in Missouri’s care.”
In 2025, Missouri enacted House Bill 737, which authorized the use of ABLE accounts for eligible youth in foster care. The legislation was designed to ensure financial benefits intended for children remain available to support them as they prepare for adulthood and independence, rather than reverting to the state.
Since the passage of HB 737, DSS has worked to implement ABLE accounts and connect eligible youth with this significant resource.
“DSS is committed to helping children in foster care build a strong foundation for the future,” said DSS Director Jess Bax. “We are grateful for the General Assembly’s partnership through HB 737 and look forward to exploring additional opportunities, including Trump Accounts, that could further support youth as they transition into adulthood.”
As discussions continue, DSS will work closely with policymakers and stakeholders to evaluate how Trump Accounts may complement existing resources available to foster youth.
The Trump Accounts program is available for all U.S. children under the age of 18. Those born between January 1, 2025, and December 31, 2028, are eligible for an initial, one-time $1,000 contribution funded by the government.
DSS remains dedicated to ensuring Missouri’s children and youth in foster care have the tools, support, and opportunities they need to thrive both during and after their time in care.
###
|
