The idea of baby bonds is gaining momentum
Cineas 21(Fabiola Cineas is a reporter at Vox.com, where she covers race and policy. Her stories explore systemic injustice in America, like the coronavirus’ disproportionate impact on marginalized communities, the persistence of school segregation, the gutting of voting rights, and widening of wealth and income gaps. She has hosted the Vox Conversations podcast and is also a host and producer for Vox Media Studios. As a host of the Emmy-nominated YouTube original series Glad You Asked, Fabiola explained contemporary issues to Vox's YouTube audience of 10.6 million viewers. Before joining Vox, she was an editor and writer at Philadelphia magazine, where she covered business, tech, and the local economy. She kicked off her career in journalism as an education reporter for the Philadelphia Public School Notebook and Chalkbeat. Fabiola began her career teaching English and writing for middle schoolers at a charter school in Camden, New Jersey.“Baby bonds could shrink the Black-white wealth gap”, Feb 17 2021, https://www.vox.com/22268500/baby-bonds-black-white-wealth-gap-booker-pressley)//BRownRice
Booker first introduced baby bonds legislation in 2019, and for the past two years the idea has failed to take the spotlight. But hope for baby bonds has grown alongside the election of President Joe Biden, who has signed a slew of executive orders aimed at rebuilding American institutions to be more equitable. And after a year of historic protests that called for racial justice and equal opportunity, more Democrats may support the legislation.
Schumer, who is not one of the most progressive members of the Democratic Party, has become more vocal in his support. “Giving our youngest Americans and their working parents an economic opportunity like baby bonds would deliver strong economic relief and mark an investment in our collective future,” Schumer said in a February statement. “This legislation ... will help address inequality, establish the foundation of a solid financial future for our kids, and serve as a down payment on the milestones that too many families find are out of basic reach.”
If budget reconciliation is not an option, Booker will likely have to pick up Republican support and reach 60 votes in the Senate. “That’s a challenge for a lot of legislation, from raising the minimum wage to my marijuana justice work,” Booker said. But baby bonds make sense for Republicans, he added, for free-market, fiscal conservative capitalists.
“We’re trying to get more people excited about the possibility,” Booker told Vox. “The knowledge of the policy and the actual impact it would have is capturing a lot of the moral imagination of the country, and increased momentum is actually part of the dialogue.”