Baby Bonds Bill get thousands every year until 18 starting w/$1K at birth

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“Under the bill, which is being led by Sen. Cory Booker (D-N.J.) and Rep. Ayanna Pressley (D-Mass.), anyone born after Dec. 31, 2021, have a government-run ‘American Opportunity Account’ with $1,000 set up for them when they’re born,” Forbes reported.

The accounts will accrue about three percent interest and the government would deposit up to $2,000 in those accounts every year until the person turns 18.

“The amount deposited depends on the household’s income level, and families will not receive any additional funds if they make more than 500% of the poverty line, which, in 2020, would be approximately $131,000 for a family of four,” the article continued.

Individuals could begin taking money from their account when they turn 18 so they could spend it on things such as college, a down payment on a home, or starting a small business

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Booker said, “I’m hoping @JoeBiden will include Baby Bonds in the next economic recovery package.”

“By investing in our children, we can build our economy back better while largely closing the racial wealth gap. Proud to be leading the charge on this with @AyannaPressley”

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