Wes Moore Praises $1,000 Trump Child Accounts as Smart Policy Despite Criticizing H.R. 1
Updated
Updated · Fox News · Jul 8
Wes Moore Praises $1,000 Trump Child Accounts as Smart Policy Despite Criticizing H.R. 1
3 articles · Updated · Fox News · Jul 8
Summary
Wes Moore said Trump Accounts are “smart policy,” crediting the administration for enacting child investment accounts he said could help reduce child poverty and the racial wealth gap.
The Maryland governor likened the program to Democratic-backed baby bonds, arguing it gives children an asset that can grow over time and lets them benefit from stock-market gains.
Moore limited his praise to the accounts, saying other parts of H.R. 1 — including tax breaks for billionaires and private-plane owners — moved efforts to narrow the racial wealth gap “significantly backwards.”
The IRS says eligible children under 18 need valid Social Security numbers, with a $1,000 pilot contribution for U.S. citizen children born from Jan. 1, 2025, through Dec. 31, 2028.
The White House said contributions began July 4, 2026, families can add up to $5,000 a year, and the money will be invested in broad index funds until generally age 18.