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Scott Bessent: “Trump Accounts are historic new savings tool to democratize…”

Featuring: Scott Bessent, Republican | Secretary of the Treasury | National

Treasury Secretary Bessent talks about setting up Trump accounts for foster children

Published June 11, 2026 | Video Starts at 00:00

Trump Accounts are historic new savings tool to democratize the benefits of private ownership and compound growth. Every American child born between January 2025 and December 2028 is eligible to receive a 10,000, a $1,000 seed contribution from Treasury. (00:00–00:04)

CLAIM

Asserts that Trump Accounts are a new savings tool aimed at democratizing private ownership and growth benefits.

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Scott Bessent

“Every American child born between January 2025 and December 2028 is eligible to receive a $1,000 seed contribution from Treasury.”
Treasury Secretary Bessent talks about setting up Trump accounts for foster children | Uploaded June 11, 2026 | 00:12-00:22
“Assuming historical growth rates continue, that single deposit in an index fund should grow to at least half a million dollars by the age of…”
Treasury Secretary Bessent talks about setting up Trump accounts for foster children | Uploaded June 11, 2026 | 00:28-00:36
“One in five [foster youth] will become homeless after aging out of the system, while only half will obtain gainful employment by the time…”
Treasury Secretary Bessent talks about setting up Trump accounts for foster children | Uploaded June 11, 2026 | 02:33-02:43
“Every eligible child in America will be able to participate, including those for whom the state serves as a legal guardian.”
Treasury Secretary Bessent talks about setting up Trump accounts for foster children | Uploaded June 11, 2026 | 01:15-01:23
“States can also help foster youth to accelerate their gains by directing survivor and SSI benefits into their Trump accounts.”
Treasury Secretary Bessent talks about setting up Trump accounts for foster children | Uploaded June 11, 2026 | 01:23-01:32
“Our goal is to work toward full participation from all 50 states, and I encourage every local welfare agency to follow Louisiana's example.”
Treasury Secretary Bessent talks about setting up Trump accounts for foster children | Uploaded June 11, 2026 | 01:50-02:03
“Trump accounts will build long term financial security for millions of children and for foster youth in particular.”
Treasury Secretary Bessent talks about setting up Trump accounts for foster children | Uploaded June 11, 2026 | 02:50-02:54