California: On Tax Day, Governor Newsom encourages families to claim free college savings, invest in their children's future

~ On Tax Day, Governor Gavin Newsom is urging families to take advantage of free college savings programs and invest in their children's future. With the help of programs like CalKIDS and Trump Accounts, families can secure a brighter financial future for their children.

Californians are being reminded not to leave money on the table and to enroll in CalKIDS, the largest state-led college savings program in America. Every child born in California on or after July 1, 2023 automatically receives a $100 deposit into their CalKIDS account. Families who register their children through the program's online portal can receive an additional $25 deposit. Even children born between July 2022 and June 2023 are eligible for this benefit.

Low-income students enrolled in California's public schools also have access to CalKIDS, with a $500 automatic deposit into their account. Governor Newsom believes that every child deserves a strong start and wants to remind Californians that help is already available through these savings programs.

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Governor Newsom stated, "California is committed to giving every child the best start in life. CalKIDS helps families build a future from day one so we can invest in our children's full potential." First Partner Jennifer Siebel Newsom also encourages families to enroll their children in CalKIDS, stating that "there is no better time to start saving for the future than today!"

In addition to state resources like CalKIDS, California also encourages families to take advantage of federal resources such as Trump Accounts. These accounts provide $1,000 towards children's future investments, whether it be for college, purchasing a first home, or starting a business.

As Tax Day approaches, Governor Newsom and his administration are reminding Californians that investing in their children's future is crucial and can be done through these free savings programs. Families are encouraged to enroll their children in CalKIDS and take advantage of other available resources to secure a brighter financial future for their children.

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