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John,
We believe in a world where each of us – no matter what our race, ethnicity or economic background – can build sustainable wealth. A world where each of us can not only live with dignity but thrive. We believe one way to start to build this world is by investing in every kid’s future.
Today, we invite you to be a part of the movement by investing in babies from birth – through federal Baby Bonds legislation. Join us, partners, and Senator Cory Booker (D-NJ) and Representative Ayanna Pressley (D-MA-7) in increasing support for the American Opportunity Accounts Act, which would provide every child, at birth, with the economic resources needed to begin building long-term economic security and generational wealth.
The American Opportunity Accounts Act would ensure that all children—whatever their economic background—have the resources they need to succeed when they become adults. With this federal Baby Bonds bill, the government would invest money on children’s behalf—with the largest amount going to children from low-income households—so that when they become young adults, they can purchase assets that will grow in value over their lifetimes, such as a home, postsecondary education or a small business.
White households hold eleven times more wealth than Black households and almost six times more wealth than Latinx households, putting children of color at a financial deficit from birth. The large and persistent racial wealth divide stems from centuries of systemic racism that has disadvantaged Black, Latinx and Indigenous communities’ ability to build and maintain wealth. Baby Bonds aims to level the economic playing field by providing young adults with the start-up capital they need to start building wealth, with children from the poorest households, who are disproportionately children of color, receiving the largest amounts.
After you contact your Members of Congress, show your support for Baby Bonds online! We’ve prepared a toolkit for you to use, so that we can collectively put our voices together to amplify this solution that could help ensure all children reaching young adulthood in the United States have the opportunity to build wealth, regardless of the financial situation they are born into.
Thank you for all that you do for children and families,
Vanna Cure
Associate Director of Advocacy
Prosperity Now
