Ask Your Senator to Support the American Opportunity Accounts Act!
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Ask Your Senators to Co-Sponsor the American Opportunity Accounts Act (Baby Bonds)!
As the COVID-19 pandemic has made more clear, countless families lack the resources to weather a financial storm, much less to be able invest in long-term wealth-building activities such as higher education or homeownership. Today, nearly 40% of all U.S. households are liquid asset poor. At the same time, households of color own a fraction of White households’ wealth. When durable goods such as a family car are subtracted, Black and Latino households own just $3,400 and $6,300 in median wealth, respectively, compared to $140,500 in median wealth owned by their White peers.
Policies, like Senator Cory Booker (D-NJ) and Congresswoman Ayanna Pressley’s (D-MA-7) American Opportunity Accounts Act, can ensure that every child has a fair shot at the American Dream by giving them an American Opportunity Account, or "baby bonds", at birth, seeded with $1,000. Every year, through the tax code, children would receive up to an additional $2,000 deposit depending on family income. With interest, this would be a nest egg of over $45,000 for the lowest income children to access higher education, homeownership or retirement.
Use the link below to email your Senators and ask them to join Senator Booker in co-sponsoring the American Opportunity Accounts Act!
Together, we can make sure every child born in the United States has a fair shot at the American dream.
For additional questions about this bill, please contact Emanuel Nieves at [email protected].
