Campaign For Every Kid’s Future Newsletter – January 2024
No images? Click here
Oh, the Weather Outside is Frightful, But Baby Bonds are so Delightful 👶
As chilly winter weather sets in across much of the country, here at Prosperity Now, our hearts are being warmed by a slew of action on Baby Bonds as the new legislative session kicks off in many states. So let it snow, let it snow, let it snow! We’ll be keeping nice and warm campaigning for every kid’s future in the halls of state legislatures!
Prosperity Now Hits the Road in Support of Baby Bonds
On Monday, January 29, Prosperity Now is partnering with The Midas Collaborative and United Way of Massachusetts Bay for a Day of Action at the Massachusetts State House. Advocates, practitioners and legislators will come together for a discussion on Baby Bonds and matched savings and how we can move these policies forward. If you are in or around Boston, we need YOU to help us lift up policies that support asset development for low-income Massachusetts families so that every child and family can build wealth and thrive. More information about the event can be found here.
In the News
‘My Future Fund’ gets Washtenaw County students saving for college early | Michigan Live (mlive.com)
The article highlights the My Future Fund CSA program in Michigan, which provides students who qualify for free or reduced-price lunch with a $500 initial deposit into their CSA.
Boston program under Walsh showed promise of a child savings account | Boston Globe (letter to the editor)
Joyce Linehan, former chief of policy and planning in the administration of Boston Mayor Marty Walsh wrote a letter to the editor of the Boston Globe highlighting the Boston Saves Children’s Savings Account (CSA) program established in 2016.
SLPS board paused its College Kids Savings Account partnership. What’s next for the program? | St. Louis Public Radio
St. Louis Treasurer Adam Layne, Dr. William Elliott of the University of Michigan and reporter Mike Fitzgerald spoke with reporters on St. Louis Public Radio about the impact of St. Louis Public Schools' decision to suspend its partnership with the College Kids CSA Program.
Baby Bonds is Our Dream Until Every Child Can Achieve Their Dreams | Prosperity Now
This blog features Tracy Yeung, a policy analyst at the Washington State Budget & Policy Center and Campaign for Every Kid’s Future Steering Committee member, sharing her personal story of why she “has dedicated her career to solving the problem of an economy that is tilted towards the wealthy few,” including helping to lead a coalition of Washington State organizations advocating for a state Baby Bonds program.
Annie E. Casey Foundation’s 2024 Race for Results report found “wide and persistent” disparities in indicators of well-being for children of color across the country. Among the recommendations made by Casey to address these disparities are creating Baby Bonds programs and expanding the Child Tax Credit.
With Pandemic-Era Benefits Gone, Child Poverty Shot Up In California | LAist
A new analysis by the California Budget and Policy Center found that after decreasing from 2019-21, child poverty in California increased from 2021 to 2022 with the end of many COVID-19 era policies. One of the solutions the Center is calling for is expanding the HOPE Program, which currently invests funds for children who lost a parent or primary caregiver to COVID-19 and children in long-term foster care, into a statewide Baby Bonds program for all children in low-income families.
Resources & Publications
How Baby Bonds Could Reduce Massachusetts’ Growing Wealth Gap | Massachusetts Budget & Policy Center | November 2023
Unequal Returns on Degree: Reimagining Financial Aid from a Financial Capability Perspective (report, infographic and video) | Center on Assets, Education and Inclusion, University of Michigan | November 2023
“Freedom to Think What Could Be Best for Our Family”: A Guaranteed Income Experiment in CollegeBound St. Paul/A Children’s Savings Account Program | Sociology Mind | October 2023
