Newsom said Californians should open Trump Accounts for newborns, calling the $1,000 market-indexed program “one of the best things” Trump has done.
The accounts, also called 530a accounts, were created with Sens. Ted Cruz and Cory Booker to give children born during Trump’s second term a federally seeded nest egg.
Newsom urged parents not to treat enrollment as a political statement, saying “it’s not Trump’s money” but their child’s money, and linked the pitch to California’s CalKIDS savings program.
Fox commentators and other observers cast the unusual praise from a frequent Trump critic as a possible 2028 positioning move, arguing early support could help Newsom in a crowded Democratic field.
Why is a prominent governor urging parents to claim a new federal newborn savings account, and how much could it actually grow?
What hidden financial strategies make combining state education programs with the new federal newborn accounts a game-changer for long-term wealth building?