Maryland Governor Wes Moore praised President Donald Trump's new child investment accounts during a July 8 interview, calling the policy a potential tool to address child poverty and the racial wealth gap despite his criticism of other elements of Trump's agenda.

Speaking on "The Clay Cane Show" podcast, Moore credited the administration for successfully enacting a policy similar to baby bonds, a concept Democrats and progressive advocates have long supported to help children build wealth over time. "I will give this administration credit for this, is that we’ve had Democratic presidents and Republican presidents who have not been able to get this done, and it actually got done," Moore said. He added, "So I actually, this is actually a smart policy," and "I’m so with you because, honestly, it’s actually a good idea."

The IRS stated that Trump Accounts are available for children under 18 with valid Social Security numbers and include a $1,000 pilot contribution for U.S. citizen children born after January 1. The White House announced that contributions to these accounts began on July 4, 2026, allowing families and others to contribute up to $5,000 annually. These funds will be invested in broad stock-market index funds and generally cannot be withdrawn before the child turns 18.

This initiative is part of H.R. 1, legislation passed by Republicans in Congress last year to implement much of Trump's agenda.

Sources