00:03Good morning. Thank you all for joining us on this historic occasion, and of course,
00:08let me extend a warm welcome to the First Lady of the United States, Melania Trump.
00:42Thank you. Good afternoon. Thank you for welcoming me this afternoon, Secretary Besant.
00:52Since the earliest days of our republic, the Treasury has stood for America's financial credibility and stability.
01:02This very building is a monument of our confidence in the American experiment.
01:10Today, we are adding another important layer to the Treasury Department's foundation, economic stewardship.
01:19For the first time, children in foster care will have access to a dedicated savings and investment vehicle,
01:29fostering the future accounts. Fostering the future accounts give foster children the same chance
01:37for asset ownership and long-term wealth building as every other American child.
01:56By investing in our foster youth now, we help strengthen America's workforce, communities, and economic future.
02:07Ownership turns the principle of individual liberty into sustainable reality.
02:14For children in foster care, this is especially important.
02:19America can offer services, help, and protection,
02:24but real freedom means being able to make independent choices about your own future.
02:36When they turn 18, foster youth will be able to access the assets they own through fostering the future accounts.
02:47This will give them a foundation for independence and opportunity.
02:53For fostering the future youth, empowerment comes through ownership.
02:58This includes ownership of knowledge through education and now ownership through savings and investment accounts.
03:09Education and savings accounts are the first steps toward personal independence.
03:17Fostering the future accounts help create the conditions where liberty can flourish.
03:23Success is not about how many benefits a person receives,
03:29but rather about how much independence they achieve.
03:34Starting today, the Treasury will let state child welfare agencies
03:40and foster youth representatives set up fostering the future accounts for children in foster care.
03:58We already have measurable results.
04:01Twenty-three governors have pledged to set up fostering the future accounts in their states,
04:08including Governor Little from Idaho, who is here with us today.
04:13Thank you, Governor.
04:23Now is the time for everyone to act.
04:26All 50 states should pledge to protect America's foster youth.
04:31Let's elevate America's children above politics.
04:37I urge every governor and business leader in America to help fund these accounts.
04:43Together, we can make sure foster youth enter adulthood with assets, opportunity,
04:51and a stronger path to independence.
04:55This is a historic moment for our nation.
05:08We should aspire to rise a generation of builders, creators, entrepreneurs,
05:15and leaders whose futures are shaped by their ambition, not their circumstances.
05:22A strong education and financial assets will give them tools for a lifetime.
05:48Please join me one more time in thanking the First Lady for those thoughtful remarks.
06:08Fostering the future is the latest expression of her longstanding work on behalf of America's children.
06:15And we at Treasury are grateful that Mrs. Trump has given generously of her leadership to the most important benefit
06:23for young people since the GI Bill.
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