Maryland Gov. Moore praises current administration for Trump Accounts

WASHINGTON (TNND) — Maryland Democratic Gov. Wes Moore praised the current presidential administration for the “Trump Accounts.”

“I will give this administration credit for this. We’ve had Democratic presidents, the Republican presidents, who have not been able to get this done, and it actually got done,” Moore said during a podcast interview on Tuesday.

He said it was a smart policy, according to The Hill newspaper.

The Trump Accounts launched July 4. The purpose of them is for families to build long-term savings and give children a head start financially.

“Starting July 4, 2026, families, employers, charities, and governments can contribute up to $5,000 per year, invested solely in low-cost U.S. equity index funds for simple, transparent, long-term growth,” the Treasury Department said in a statement.

President Donald Trump said that parents are very excited about it.

The Treasury Department reports that as of last week, over six million families have signed up to create a Trump account for their child.

“One of the fastest ways that you can address both the child poverty [issue] and the racial wealth gap is actually baby bonds,” Moore stated “By giving children a chance to be able to have something that can grow and grow in maturity, that can then give them an opportunity to have a measure of economic mobility — and sustainable economic mobility.”