Maryland Democratic Gov. Wes Moore has lauded the Trump administration for enacting child investment accounts, a policy he likened to baby bonds and suggested could be a significant tool in combating child poverty and the racial wealth gap.
During a recent interview on "The Clay Cane Show" podcast, Moore stated that the Trump Accounts represent a "smart policy." He noted that similar initiatives have eluded both Democratic and Republican administrations, yet this one was successfully implemented. "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," Moore said.
Moore drew a direct comparison between the Trump Accounts and baby bonds, a policy long advocated by Democrats and progressive groups to help children build wealth. "I’m so with you because, honestly, it’s actually a good idea," Moore commented. "And you know what it is, frankly? It’s essentially the same thing that we’ve been advocating for for a decade, which is like baby bonds."
He explained that the policy could provide children with a financial asset that grows over time, fostering economic mobility. "One of the fastest ways that you can address both child poverty and the racial wealth gap is actually baby bonds, by giving children a chance to be able to have something that can grow and grow in maturity, that can then give them an opportunity to have a measure of economic mobility and sustainable economic mobility," Moore said.
However, Moore was careful to distinguish his praise for the savings accounts from other aspects of the legislation that included them, particularly provisions within H.R. 1, which he argued would counteract efforts to address wealth inequality. "I still have a lot of other issues with a lot of things that were in H.R. 1, like the fact that we gave tax cuts to billionaires, the fact that we gave tax breaks for people who own private planes," he stated. Moore asserted that while the savings accounts themselves are beneficial for children, other policies enacted under H.R. 1 have moved the country "significantly backwards in an attempt to be able to address the racial wealth gap."
Addressing the framing of baby bonds as potentially socialist, Moore rejected this notion, instead positioning the idea as an effort to improve capitalism. "It’s just saying how can you have a capitalistic system that works for everybody," he said. "I believe that capitalism has been a remarkable engine... but not when it’s corrupted."
According to the IRS, Trump Accounts are intended for children under 18 with valid Social Security numbers. A $1,000 pilot contribution is designated for U.S. citizen children born between January 1, 2025, and December 31, 2028. The White House has indicated that contributions to these accounts began on July 4, 2026, with annual contribution limits set at $5,000. The funds are intended to be invested in broad stock-market index funds and are generally accessible only after the child reaches the age of 18.
Moore concluded by stating his willingness to collaborate with any administration on policies that benefit Maryland residents, while maintaining his opposition to those he believes would harm the state. "I will work with anyone, but I will bow to no one," he declared.