John,

I want to talk for a minute about the history of the racial wealth gap.

Systems of oppression throughout our country’s history — from slavery to redlining — have led to a disproportionate share of Black families being unable to accrue and pass down wealth to their children, grandchildren, and future generations the way many white families have.

According to CNN, “In 2022, the typical White household had about six times as much wealth as the typical Black household and five times as much as the typical Hispanic household.”

That’s one of the reasons why I’ve reintroduced the American Opportunity Accounts Act, known as “baby bonds,” to give every child in America the opportunity to build wealth and achieve success, no matter the circumstances they were born into.

If you’re ready to join my fight for baby bonds to close the racial wealth gap, add your name in support now.

Here’s how baby bonds work: By passing our bill, the U.S. government would give every newborn child a savings account seeded with $1,000 at birth, with the potential to receive up to an additional $2,000 every year based on their family’s income.

Those savings, which would grow over time with interest, could then be utilized by children when they turn 18 to pay for wealth-building investments like higher education, a down payment on a house, or opening a new business.

Child poverty skyrocketed back to the pre-pandemic status quo after Mitch McConnell and the GOP allowed the expanded Child Tax Credit to expire. With a Democratic majority in the Senate, I believe the time is ripe to not just help people climb out of poverty, but build wealth for the future. We can do that by making baby bonds a reality.

If you support my bill to close the racial wealth gap and give every child the economic opportunity they deserve, add your name as a citizen cosponsor of my baby bonds legislation and urge the Senate to act immediately.

With enough support, I know we can take this bold step to end intergenerational poverty and give all American children and families an equal chance to succeed.

With love and gratitude,

Cory