Help us level the playing field for all children in America.
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Ask Your Legislators to Co-Sponsor the American Opportunity Accounts Act (Baby Bonds Bill)!
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) recently reintroduced 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 links below to contact your legislators today and ask them to join their colleagues 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 Joanna Ain at j[email protected].
