Beckman said, telling host Mike Slater ahead of the 11 a.m. Eastern event at the Treasury Department, that the first lady is “producing measurable results for our country again” and describing her as “an action-oriented leader” focused on “protecting our American children.”
Beckman said the first lady is moving “back on the foster care front” as America launches the “Fostering the Future accounts,” calling the effort “her idea” and saying she “architected this new financial resource” to help foster youth become “fiscally autonomous upon reaching the age of majority.”
“We’re giving foster children the same chance for asset ownership and long-term wealth building that every other American child has,” Beckman said. He added that the broader goal is to “help strengthen America’s workforce, our communities, and our economic future.”
Asked how the accounts would function, Beckman said foster youth often “move around from home to home, from family to family,” and that the initiative creates an “ownership opportunity” through “a portable account” belonging to the young person. “It’s theirs, it’s their asset, it’s about ownership,” he said.
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