Arkansas foster youth will soon have access to a new savings and investment opportunity through the federal Trump Account program, according to an announcement from Gov. Sarah Huckabee Sanders.
The tax-advantaged investment accounts were created through President Trump’s One, Big, Beautiful Bill Act. Under the initiative, all Arkansas foster youth will be enrolled in the program to help them begin building financial resources before reaching adulthood.
“One of my top priorities as Governor has been to make sure our most vulnerable young people, our foster youth, are set up for success. Thanks to President Trump’s Trump Account program, we’re giving these young people a chance to start saving for the future before they even reach adulthood,” said Gov. Sanders. “Thank you to the President and First Lady for the focus they have put on making sure every young person in this country can achieve the American Dream.”
The program is available to all U.S. children under age 18. Children born between Jan. 1, 2025, and Dec. 31, 2028, are eligible for a one-time government-funded contribution of $1,000. Parents, grandparents, guardians, employers and nonprofit organizations may also contribute, subject to an annual limit of $5,000.
State officials say the accounts can help address barriers many foster youth face when it comes to establishing savings and planning for the future.
“Establishing a savings account is a key step that better positions children to thrive as they grow and become adults,” said DCFS Director Tiffany Wright. “However, we know that this can be challenging, especially for youths who must enter foster care. This program helps close that gap and ensure that all children can begin to save for their future. We are so appreciative of Gov. Sanders and her team for making this a reality in our state, and we look forward to implementing it.”
Arkansas Department of Human Services Secretary Janet Mann said the program provides another way to support children in the state’s foster care system.
“The Trump Account Program represents a new way that we can help support our youth in foster care, and I am so proud to know that our state is making these accounts available to the children in care we serve through our Division of Children and Family Services (DCFS),” Mann said. “This is an incredible opportunity that will positively impact families for years to come. I’m grateful to President Trump for establishing this beneficial program, and to Governor Sanders for her continued support of the work we do to serve children and families in Arkansas.”
Beneficiaries may begin making withdrawals on Jan. 1 of the year they turn 18, with the accounts generally following rules similar to Individual Retirement Accounts (IRAs).
The announcement comes as Arkansas continues efforts to improve foster care and adoption outcomes. According to the governor’s office, fewer than 200 children are currently waiting for adoption statewide, the lowest number since data collection began.
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