Newsom breaks with usual Trump criticism to tout Trump Accounts
Governor Gavin Newsom of California expressed positive views about President Donald Trump’s Trump Accounts, praising them during a recent press conference while simultaneously promoting California’s own CalKIDS program. Newsom described the Trump Accounts-investment savings for children that are tax-deferred and accessible after age 18-as a direct, results-oriented initiative that benefits the next generation and fosters financial literacy. He highlighted bipartisan support for the program, noting involvement from Senators Ted Cruz and Cory Booker, and mentioning important contributions from corporations like Dell and other supporters. Although Newsom has been a critic of Trump generally, he acknowledged the program’s value and urged people to sign up for both Trump Accounts and CalKIDS, which provides additional funds for college or career path expenses. The Trump Accounts were launched a year prior, with official endorsements from the Trump management and notable donations to support the initiative. Newsom’s praise for the program marks a rare moment of bipartisan agreement on a Trump-led policy amid his often critical stance towards the former president.
Gov. Gavin Newsom (D-CA) spoke positively about President Donald Trump’s Trump Accounts on Friday in a rare break with the White House while touting a similar initiative in California.
“I am enthusiastic about getting people to get a Trump Account,” Newsom said at a press conference promoting his CalKIDS program. “I think it’s incredibly important. It’s one of the best things he’s done.”
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The Trump Accounts officially launched on July Fourth after being signed into law as part of the One Big Beautiful Bill Act exactly one year prior. The accounts are tax-deferred investment savings accounts for children into which parents, family members, and others can contribute money. The beneficiary can access the funds only after turning 18.
“It’s direct, it’s tangible, it’s results-oriented; it’s not lost in bureaucracy,” Newsom also said. “You can see it, taste it, feel it; you’re making a difference directly in the next generation; you’re giving them hope. And so we’re here to encourage people to take advantage of this, to not fall prey to the politics or the cynicism or maybe even the fear that if I download a Trump account, somehow that means something — it doesn’t. It just means something for your kid. It’s not Trump’s money; it’s your child’s money.
Newsom noted the bipartisan nature of the program, as Sens. Ted Cruz (R-TX) and Cory Booker (D-J) both championed the investment accounts and worked to secure funding from Fortune 1000 corporations. “It’s one of the best things Ted Cruz has done,” Newom said. “It’s one of the best things Cory Booker has done, that were out there promoting it.”
Dell CEO Michael Dell and his wife Susan announced a philanthropic gift of over $6 billion to the Trump Accounts, and individual states and other large corporations also made significant donations to the program, according to Americans for Tax Reform. The Trump administration has touted the initiative as a way to educate the youth about financial literacy and invest in younger generations.
TRUMP ACCOUNTS OFFICIALLY LAUNCH ONE YEAR AFTER BEING SIGNED INTO LAW
Newsom has emerged as one of Trump’s staunchest critics throughout his second term in office, electing to mock and deride the president via social media. Newsom is widely seen as a potential Democratic candidate in the 2028 presidential election.
The California governor offered the praise while touting the similar CalKIDS initiative, which puts “up to $1,500 in baby bond accounts to help pay for college, career training, or any path after high school,” according to Newsom’s X account. “I encourage everyone to sign up for BOTH CalKIDS and Trump Accounts,” he said after the press conference.
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