Gavin Newsom hails Trump Accounts as ‘best’ thing the prez has ever done in rare lovefest

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Key points

• Trump Accounts were included in the president's One Major Beautiful Bill and provide children born between January 1, 2025, and December 31, 2028 with $1, 000.
• Donors Michael and Susan Dell this year committed $6.25 billion to seed Trump Accounts for 25 million American kids living in zip codes with median incomes below $150, 000.
• Newsom was joined by wife Jennifer Siebel Newsom, San Francisco Treasurer Jose Cisneros and venture capitalist Brad Gerstner.
• Citizen with a child 18 and under can open a Trump account, but the free $1, 000 is only available to children born in the roughly four-year window.
• Gerstner estimated that if families contribute just $10 per week, the funds could be worth as much as $1 million by the time a child is 55.

Gov. Gavin Newsom heaped praise on President Donald Trump's popular "Trump Accounts" that offer free capital to American kids – calling the policy one of the "best things" the president has ever done in a rare moment of praise for his nemesis.

"This was one of the really outstanding things this administration has done. They deserve a lot of credit and I hope individuals secure the benefit of this program and don't look at the politics of it, " Newsom noted at a press conference Friday in San Francisco.

Newsom was joined by wife Jennifer Siebel Newsom, San Francisco Treasurer Jose Cisneros and venture capitalist Brad Gerstner. This person has pushed for the kids' tax-advantaged investment accounts as part of the nonprofit Invest America.

"I'm enthusiastic about encouraging people to get a Trump account, " Newsom remarked to journalists.

He pressed Californians to apply the accounts even if they aren't fans of the president.

"It's one of the best things he's done. It's one of the best things Ted Cruz has done. It's one of the best things Corey Booker has done – they were out there promoting it, " the governor remarked.

Trump Accounts were included in the president's One Major Beautiful Bill and provide children born between January 1, 2025, and December 31, 2028 with $1, 000. Parents, guardians, family and employers can contribute up to $5, 000 annually to the accounts. It can then compound significantly over the years.

In practice, the accounts are one of Trump's more popular policy proposals, with 76% of American adults backing the idea of government-backed "baby bonds" in an Urban Institute survey conducted this year.

Anyone U.S. Citizen with a child 18 and under can open a Trump account, but the free $1, 000 is only available to children born in the roughly four-year window. Invest America and its partners are now working to secure philanthropic donations to expand the free seed funds to more children.

Gerstner estimated that if families contribute just $10 per week, the funds could be worth as much as $1 million by the time a child is 55. The U.S. Treasury has introduced a mobile app that families can apply to create contributions.

Starting in October, the accounts will be created automatically so families don't even have to take any action to receive the funds, he remarked. "The math is very simple, " Gerstner remarked.

"I think the one universal philosophy in America is the American Dream – you have a shot to have economic mobility, the 'right to rise' as Abraham Lincoln called it. And that is not a partisan matter, " he shared.

California introduced its own CalKIDS program four years ago that provides up to $1, 500 for low-income children to backing education or training programs.

One million families have asserted the accounts, according to Newsom's office. Nevertheless, numerous accounts have not yet been asserted and Newsom's office called on families to visit the program's website to determine eligibility.

Micron Technology has pledged $250 million to backing Trump and CalKIDS accounts for kids living in Sacramento and Santa Clara counties and an anonymous San Francisco donor kicked in $3.5 million towards $500 deposits for kids born in the city. The governor joked he wished he'd called California's version "Newsom accounts."

"If I had, everyone would have been so upset and been controversial, but we would have created energy around it and people would have paid attention."

" became president for a reason. He knows how to brand himself, " he remarked.

Taken together, the developments around gavin Newsom hails Trump Accounts as 'best' thing the prez has ever point to a situation that is still moving, and the coming days should bring more clarity.