Connecticut Leading the Way with Baby Bonds
Could providing $11,000 to every child born into poverty close the state’s wealth gap, one of the worst in the nation?
Legislation headed for the governor’s desk will provide every child born into poverty a fighting chance to attend college, buy a home, or start a business. The bill will provide $50 million a year so the state can set aside and invest $3,200 for each child born after July 1 who is enrolled in Medicaid. That’s about 16,000 children a year who stand to benefit from these “Baby Bonds.” When these children reach age 18, that money is expected to have grown to nearly $11,000. Click here to read the CT Mirror’s full story.