Booker, Pressley Reintroduce Bicameral "Baby Bonds" Legislation to Tackle Wealth Inequality

Statement

"Americans today are having a harder time accessing homeownership, higher education, and a secure retirement than their parents did just a generation before them," said Senator Booker. "This is due in part to our upside-down tax code, which is great at preserving and building wealth for corporations and wealthy families, but fails Americans who are barely getting by and are unable to afford long-term investments to get ahead. "Baby Bonds' would fix our broken tax code by providing every American child with startup capital for their life, and helping to drive down the wealth inequality that holds American families back from their full potential. With more cities and states across the country establishing their own "Baby Bonds' programs, I'm excited for the potential of American Opportunity Accounts to build a foundation for economic opportunity for all Americans, while breaking the generational cycles of poverty for underserved communities in the process."

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