Team,

It’s Black History Month, and I want to talk about an issue that’s plagued Black Americans for decades on end: intergenerational poverty and the racial wealth gap.

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

Even in 2021, there is a massive racial wealth gap: the typical white household has 8 times the wealth of the typical black household.

That’s why today, I’m excited to reintroduce the American Opportunity Accounts Act, also 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 on board with baby bonds, add your name in support now → 

Here’s how it works: By passing this 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.

That 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 a college education or vocational training, a down payment on a house, or starting a business.

People are hurting right now as we continue through this grueling pandemic. But with a Democratic majority in the Senate, I believe the time is ripe to not just help people survive now, but thrive in the future. We can build back better 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 Black children and families an equal chance to succeed.

— Cory