Maryland Governor Wes Moore (D) praised President Donald Trump's new Trump Accounts program, calling it a 'smart policy' that could help address child poverty and the racial wealth gap. The accounts, launched on July 4, 2026, provide a $1,000 seed deposit for children born between January 1, 2025, and December 31, 2028, with tax-deferred investment savings. Moore, who has clashed with Trump on other issues, acknowledged the policy's merits while criticizing the program's branding.
Moore made the remarks during an interview on SiriusXM’s The Clay Cane Show, where he credited the Trump administration for enacting a policy that previous administrations had failed to implement. 'This is actually a good idea,' Moore said, noting that the accounts resemble 'baby bonds,' a policy long advocated by Democrats. He emphasized that the accounts could provide children with economic mobility and security into adulthood.
The Trump Accounts were established under the One Big Beautiful Bill Act, signed into law by Trump in July 2025. The program allows contributions of up to $5,000 annually and restricts withdrawals until the child turns 18. Moore also joked about the program's name, saying, 'I hate the fact that he called it Trump Accounts.'
Moore's praise for the policy comes amid ongoing political tensions with Trump, including disputes over federal disaster assistance. Despite his criticism of other aspects of Trump's agenda, Moore reiterated his support for the savings accounts as a tool to combat child poverty and the racial wealth gap.