Maryland Governor Wes Moore praised President Donald Trump's new child investment accounts during an interview on 'The Clay Cane Show' podcast. He stated that the policy could help address child poverty and the racial wealth gap, comparing it to baby bonds. Moore acknowledged that previous administrations had failed to implement such a policy, saying, '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.' He emphasized that the accounts could provide children with a financial asset that grows over time, aiding in economic mobility.
Moore expressed his support for the savings accounts but criticized other provisions in the 'Big Beautiful Bill' (H.R. 1) passed by Republicans, stating that they included tax cuts for billionaires and tax breaks for private plane owners. He argued that while the accounts are beneficial for children, the accompanying policies could hinder efforts to close the racial wealth gap. Moore rejected the notion that baby bond proposals are socialist, asserting that they aim to make capitalism work for everyone. He indicated a willingness to collaborate with Trump on policies that benefit Maryland residents while opposing those he believes would be detrimental.
The IRS has stated that Trump Accounts are available for children under 18 with valid Social Security numbers, including a $1,000 pilot contribution for U.S. citizen children born between January 1, 2025, and December 31, 2028. Contributions to the accounts began on July 4, 2026, with a maximum annual contribution of $5,000, and funds will be invested in broad stock-market index funds, generally inaccessible until the child turns 18.