California Governor Gavin Newsom has publicly lauded President Donald Trump's initiative to create investment accounts for children, a move that has drawn attention from political observers who suggest it could be a strategic positioning for a potential 2028 presidential bid.
Newsom described the Trump Accounts, also known as 530a accounts, as "one of the best things" Trump has done. The program, supported by Senators Ted Cruz and Cory Booker, aims to establish market-indexed savings accounts for children born during Trump's potential second term, starting with $1,000.
During a press conference, Newsom encouraged Californians to consider opening these accounts for newborns, drawing a parallel to a similar state-led program. "It doesn't, it just means something for your kid. It's not Trump's money. It's your child's money," Newsom stated, urging people not to let politics or cynicism deter them from taking advantage of the program.
This endorsement has prompted speculation about Newsom's political future. Conservative writer Charles Hurt commented on "Fox & Friends Weekend" that Newsom, who has been linked to potential 2028 presidential aspirations, appears "thirsty" for such endorsements, recalling similar instances where Democrats offered praise for Trump's "No Tax on Tips" policy.
Dana Perino, former White House press secretary under George W. Bush, echoed this sentiment on Fox News' "The Five," suggesting Newsom's comments are a deliberate "2028 play." Perino posited that this early support could position Newsom favorably in future debates, allowing him to counter potential criticisms.
Alexandra Macedo, California Assembly Minority Leader, expressed that while the collaboration on Trump Accounts is positive, it should be more common. "It is good to see Gavin Newsom working with the Trump administration and recognizing a good idea when he sees one," Macedo said.
Newsom's wife, Jennifer Siebel Newsom, also spoke at the event, highlighting a state program called "CalKIDS" which, according to the Sacramento Bee, has not achieved the same level of success as the Trump Accounts.
While Newsom has previously dismissed speculation about a 2028 presidential run as "wildly premature," he has also acknowledged considering such a possibility. His past actions, including a nationally televised debate with Florida Governor Ron DeSantis and comments to the Los Angeles Times, have fueled ongoing discussions about his national ambitions.