Louisiana Gov. Jeff Landry on Monday praised President Donald Trump's new Trump Accounts program, calling the tax-advantaged investment vehicles a "genius" way to help families build wealth for future generations while giving children greater financial flexibility as they enter adulthood.

Appearing on Newsmax’s "National Report" on Monday, Landry said Americans have long understood the importance of saving early and argued the new accounts reinforce that tradition.

"Look, I think that Americans have always appreciated savings and understanding that saving for rainy days," Landry said. "And if you start saving at a very early age, especially when you have a child and that child grows up, then that savings account can help him or her advance as they go into whatever it is that ... they want to do."

The comments came as the Trump administration marked the rollout of the new accounts, which were created under the One Big Beautiful Bill Act.

Eligible U.S. citizens born between Jan. 1, 2025, and Dec. 31, 2028, can receive a one-time $1,000 federal contribution, while families and others may contribute up to $5,000 annually.

Funds generally become available at age 18 and may be used for purposes including education, purchasing a home, or starting a business.

Landry compared the new program to Louisiana's existing education savings efforts, saying his own family benefited from opening a 529 college savings plan.

"I mean, look, I can remember we got a 529 account for our son when he was born," he said. "And that has absolutely helped offset his cost of college now.

"And so look, I think what the president has done is absolutely genius. I think we should do health savings accounts. I think the Trump Accounts are great."

Landry said Louisiana lawmakers recently eliminated what he described as the state's "orphan tax" and redirected those funds into Trump Accounts and 529 education savings accounts.

"I mean, we got rid of the orphan tax in Louisiana this legislative session and actually started spending that money on putting that money in Trump Accounts."

Landry also argued the accounts promote private ownership and personal responsibility at a time when affordability remains a major issue for many Americans.

"I mean, property rights, things you're being able to own and actually acquire assets is an American staple," he said. "And so again, I think savings accounts and showing children, OK, how they can save for tomorrow. Today is an important American ideal.

"And again, it offsets costs when those children become adults."

Asked how Trump Accounts differ from traditional 529 education savings plans, Landry said the new program offers broader flexibility.

"The only thing I would add is it would be nice if the Trump Accounts could then offset healthcare costs as well," he said.

"But I think the president laid it out extremely well. He says, Listen, these Trump Accounts can be used for education, can be used for purchasing a home later on. And so there's a lot more flexibility in those accounts than any of the other accounts that have been put up in the past."

Landry said the program represents a long-term investment by the federal government in younger Americans.

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