{"id":24941,"date":"2022-08-22T19:49:59","date_gmt":"2022-08-22T19:49:59","guid":{"rendered":"https:\/\/one.sightlinemg.com\/federaltimes\/uncategorized\/2022\/08\/22\/baby-bonds-now-being-tested-in-dc-could-cut-wealth-gap-backers-say\/"},"modified":"2026-08-08T04:58:35","modified_gmt":"2026-08-08T04:58:35","slug":"baby-bonds-now-being-tested-in-dc-could-cut-wealth-gap-backers-say","status":"publish","type":"post","link":"https:\/\/one.sightlinemg.com\/federaltimes\/federal-oversight\/2022\/08\/22\/baby-bonds-now-being-tested-in-dc-could-cut-wealth-gap-backers-say\/","title":{"rendered":"\u2018Baby bonds\u2019 now being tested in DC could cut wealth gap, backers say"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">WASHINGTON \u2014 A landmark social program now being pioneered in the nation\u2019s capital could cut the wealth gap if rolled out at the federal level, proponents say.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The program now being tested in Washington, D.C., is called \u201cBaby Bonds\u201d and it\u2019s designed to narrow the wealth gap. The children of capital\u2019s poorest families would get up to $25,000 when they reach adulthood for college, to invest in a business or make a down payment on a home.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The District of Columbia is the first laboratory, and U.S. lawmakers are monitoring the experiment. The bonds are designed to provide a boost of capital at a critical time in the lives of the country\u2019s poorest children<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In just over a decade, the Baby Bonds idea has moved from a fringe leftist concept to actual policy. Lawmakers from coast to coast are monitoring the experiment, one that proponents say could reshape America\u2019s growing wealth gap in a single generation if instituted on a federal level.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Despite the name, the bonds are more accurately trust funds, designed to provide a boost of capital at a critical time in the lives of some of the country\u2019s poorest children. At age 18, each enrolled child will receive a lump sum payment.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cThink about all the things that people with money do to support themselves or what parents do for kids,\u201d said Kenyan McDuffie, a D.C. Council member who pushed through <a href=\"https:\/\/lims.dccouncil.us\/Legislation\/B24-0236?mc_cid=f9bfa94a13&#038;mc_eid=59863930d0\">Washington\u2019s Baby Bonds program<\/a> last summer. The clock started ticking in October and as of mid-August the city has so far identified 833 babies born since then who will receive up to $25,000 when they turn 18.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cThink about all those young folks who are going to be here in a city trapped in poverty, graduated from high schools turning 18,\u201d McDuffie said. \u201cAnd then having an account with money in it for them.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It\u2019s an expensive and long-simmering investment that by definition will take a generation of sustained political willpower to truly bear fruit. The district\u2019s program will cost $32 million for the first four years alone.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The idea was originally proposed in 2010 by academics <a href=\"https:\/\/socialequity.duke.edu\/wp-content\/uploads\/2019\/10\/Can-Baby-Bonds-Eliminate-the-Racial-Wealth-Gap.pdf\">William Darity and Darrick Hamilton<\/a> as a way to break the poverty cycle by giving children of poor families a chance to build long-term equity \u2014 either actual property, a stake in a business or the earning potential that comes from higher education.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It came to mainstream attention when <a href=\"https:\/\/medium.com\/@corybooker\/corys-plan-to-provide-safe-affordable-housing-forall-americans-da1d83662baa\">Sen. Cory Booker, D-N.J.<\/a>, made it a centerpiece of his 2020 presidential campaign.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cI think it\u2019s an idea that\u2019s growing,\u201d Booker told the AP. \u201cAnd it\u2019s a big idea. It\u2019s on the level of Social Security. It\u2019s on the level of Medicare. One generation would create a dramatic change.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For politicians, the price tag can be daunting. Booker\u2019s national plan envisioned annual costs of $60 billion, something he proposes financing by raising taxes on the wealthy.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For now, the Washington experiment will be closely watched by other state and local governments, with Baby Bonds proposals recently emerging in Wisconsin and Washington state and Massachusetts studying the issue. <a href=\"https:\/\/apnews.com\/article\/covid-health-california-poverty-7e667f5c6bc8248777a044064492cad5\">California just created a more targeted version<\/a>, with Baby Bonds funds specifically for children who lost parents to COVID-19.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Which states are considering Baby Bonds?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The concept\u2019s journey from academic thought experiment to on-the-ground policy received a major boost from the national conversation on poverty brought on by the pandemic. The economic iniquities exposed by COVID-19 fueled calls for a new approach to the cycle of generational poverty. And the Baby Bonds concept, already familiar from Booker\u2019s campaign, gained fresh momentum with multiple proposals receiving serious consideration at a state level.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">But most of them have failed to see daylight.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Gov. Phil Murphy, D-N.J., made headlines in 2020 for backing a <a href=\"https:\/\/apnews.com\/article\/legislature-trenton-archive-cory-booker-new-jersey-bf6d2abc8ca2f8d02badef999cc25133\">Baby Bonds proposal<\/a>. But the Legislature stripped it out of his budget, and Murphy did not propose it again.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In June 2021, Connecticut\u2019s legislature approved the country\u2019s first <a href=\"https:\/\/portal.ct.gov\/OTT\/Debt-Management\/CT-Baby-Bonds\">state-level Baby Bonds program<\/a>. But in May of this year, lawmakers, in coordination with the governor\u2019s office, chose to delay the program\u2019s start by two years.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">That makes Washington, D.C., the first real test case.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Connecticut\u2019s treasurer, Shawn Wooden, who championed the program, said he was surprised and disappointed by the delay in his own state but remains convinced that the policy\u2019s time has come.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cThere\u2019s quite the level of interest in this, and always with these things we need what we call first movers,\u201d Wooden said. For the concept to spread, \u201cthere needs to be success in Connecticut. There needs to be success in the District of Columbia.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Wooden has discussed Baby Bonds with members of President Joe Biden\u2019s domestic policy team. McDuffie\u2019s office has fielded queries from multiple state governments.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Who will manage the Baby Bond funds?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The concept is new enough that it\u2019s still being tinkered with, with multiple models and internal debates among advocates on issues such as how best to determine eligibility. Washington\u2019s program is so new that the families who have qualified have not been informed yet and will not be until the city hires a fund manager.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Connecticut\u2019s will automatically enroll any newborn from a family on the state\u2019s Medicaid program. Booker\u2019s proposal would have sidestepped that issue by granting every child born in the country a Baby Bonds fund and $1,000 in seed money. Then, all subsequent payments into the fund would have been heavily weighted toward poorer families.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Washington\u2019s program is open to families on Medicaid who make less than 300% of the federal poverty line, meaning earnings of up to about $83,250 for a family of four.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">There are differences among plans in the size of the final payout. Booker\u2019s proposal would have paid about $46,000 to children of the poorest families, while the district expects to pay out a maximum of $25,000. Connecticut\u2019s plan would pay an estimated $13,000 \u2014 something Wooden described as \u201cpretty much the floor\u201d for a serious attempt at a Baby Bonds program.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Naomi Zewde, an assistant professor in health economics at the City University of New York who conducted a 2019 analysis of the concept, set the lowest impactful payment at $15,000.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cIt has to be a sum of money that\u2019s kind of outside what people would normally come across,\u201d she said.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Zewde\u2019s analysis suggested that a nationwide federal Baby Bonds program would massively reduce the racial wealth gap between white and Black Americans in a single generation, even as it boosted both races.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Currently the median wealth of young white Americans stands at $46,000, compared with $2,900 for Black Americans.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For a Baby Bonds program to succeed, it has to be on a national level and have strong popular support, advocates said.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Darity, a Duke professor who co-authored the original Baby Bonds proposal, points to Britain, which instituted a similar program called the child trust fund in 2005. But the program was discontinued and all future payments halted in 2010 in a government austerity campaign.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cI think the assessment in England was that they had not built grassroots support for the policy when they started it,\u201d he said. \u201cSo there wasn\u2019t any strong resistance to eliminating the plan.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In the United States, the program already has been strongly endorsed by prominent liberal organizations such as the Urban Institute and Prosperity Now.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">But there are detractors.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Veronique de Rugy, a senior research fellow at George Mason University\u2019s Mercatus Center, said the one-way nature of the deposits, with no mechanism for the families themselves to add money, \u201cdoes nothing to encourage the culture of savings.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">She added that the program could tie up millions that could be used to address immediate societal conditions that also help feed the cycle of poverty.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cA lot of these kids are still going to be stuck in bad schools,\u201d she said.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Michael Strain, an economist at the conservative American Enterprise Institute, says Baby Bonds advocates will struggle to persuade lawmakers around the country to make such an expensive commitment. \u201cI absolutely think it\u2019s a hard sell,\u201d he said. \u201cThe 18-year lag is less of a political obstacle than the price tag.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Wooden rejected the perception of Baby Bonds as having no payoff for 18 years, saying the benefits will be immediate and measurable. That nest egg, he said, will inspire real-time changes in planning, academic achievement and overall ambition in both children and families.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cThere is a high value that should be placed on hope,\u201d he said. \u201cWe know what hopelessness looks like in our communities.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Children of capital\u2019s poorest families would get up to $25,000 when they reach adulthood for college, to invest in a business or make a down payment.<\/p>\n","protected":false},"author":7,"featured_media":43167,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_yoast_wpseo_meta-robots-noindex":"","_yoast_wpseo_meta-robots-nofollow":"","_yoast_wpseo_canonical":"","_acf":"","_yoast_wpseo_primary_category":9,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","_smg_distribution_targets":[]},"categories":[31,9],"tags":[],"coauthors":[2101],"class_list":["post-24941","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-home","category-federal-oversight"],"acf":{"subheadline":"","legacy_arc_id":"XXAKPQAJVRHJNNP7VHSNJIRMQE","arc_canonical_url":"\/federal-oversight\/2022\/08\/22\/baby-bonds-now-being-tested-in-dc-could-cut-wealth-gap-backers-say\/","remove_feature_photo":false,"is_sponsored":false,"subtype":"","redirect_url":"","disable_inline_ads":false,"native_logo_pretext":"Presented By:"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.0 (Yoast SEO v28.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>\u2018Baby bonds\u2019 now being tested in DC could cut wealth gap, backers say - Federal Times<\/title>\n<meta name=\"description\" content=\"Children of capital\u2019s poorest families would get up to $25,000 when they reach adulthood for college, to invest in a business or make a down payment.\" \/>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"\u2018Baby bonds\u2019 now being tested in DC could cut wealth gap, backers say\" \/>\n<meta property=\"og:description\" content=\"Children of capital\u2019s poorest families would get up to $25,000 when they reach adulthood for college, to invest in a business or make a down payment.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/one.sightlinemg.com\/federaltimes\/federal-oversight\/2022\/08\/22\/baby-bonds-now-being-tested-in-dc-could-cut-wealth-gap-backers-say\/\" \/>\n<meta property=\"og:site_name\" content=\"Federal Times\" \/>\n<meta property=\"article:published_time\" content=\"2022-08-22T19:49:59+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-08-08T04:58:35+00:00\" \/>\n<meta name=\"author\" content=\"Ashraf Khalil, The Associated Press\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ashraf Khalil, The Associated Press\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"7 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\n\t    \"@context\": \"https:\\\/\\\/schema.org\",\n\t    \"@graph\": [\n\t        {\n\t            \"@type\": \"Article\",\n\t            \"@id\": \"https:\\\/\\\/one.sightlinemg.com\\\/federaltimes\\\/federal-oversight\\\/2022\\\/08\\\/22\\\/baby-bonds-now-being-tested-in-dc-could-cut-wealth-gap-backers-say\\\/#article\",\n\t            \"isPartOf\": {\n\t                \"@id\": \"https:\\\/\\\/one.sightlinemg.com\\\/federaltimes\\\/federal-oversight\\\/2022\\\/08\\\/22\\\/baby-bonds-now-being-tested-in-dc-could-cut-wealth-gap-backers-say\\\/\"\n\t            },\n\t            \"author\": {\n\t                \"name\": \"migration\",\n\t                \"@id\": \"https:\\\/\\\/one.sightlinemg.com\\\/federaltimes\\\/#\\\/schema\\\/person\\\/cc76c831bb37a926738c8391fca7a3b1\"\n\t            },\n\t            \"headline\": \"\u2018Baby bonds\u2019 now being tested in DC could cut wealth gap, backers say\",\n\t            \"datePublished\": \"2022-08-22T19:49:59+00:00\",\n\t            \"dateModified\": \"2026-08-08T04:58:35+00:00\",\n\t            \"mainEntityOfPage\": {\n\t                \"@id\": \"https:\\\/\\\/one.sightlinemg.com\\\/federaltimes\\\/federal-oversight\\\/2022\\\/08\\\/22\\\/baby-bonds-now-being-tested-in-dc-could-cut-wealth-gap-backers-say\\\/\"\n\t            },\n\t            \"wordCount\": 1433,\n\t            \"commentCount\": 0,\n\t            \"publisher\": {\n\t                \"@id\": \"https:\\\/\\\/one.sightlinemg.com\\\/federaltimes\\\/#organization\"\n\t            },\n\t            \"image\": {\n\t                \"@id\": \"https:\\\/\\\/one.sightlinemg.com\\\/federaltimes\\\/federal-oversight\\\/2022\\\/08\\\/22\\\/baby-bonds-now-being-tested-in-dc-could-cut-wealth-gap-backers-say\\\/#primaryimage\"\n\t            },\n\t            \"thumbnailUrl\": \"https:\\\/\\\/one.sightlinemg.com\\\/wp-content\\\/uploads\\\/2026\\\/08\\\/GettyImages-868502474.jpg.jpg\",\n\t            \"articleSection\": [\n\t                \"Home\",\n\t                \"Oversight\"\n\t            ],\n\t            \"inLanguage\": \"en-US\",\n\t            \"potentialAction\": [\n\t                {\n\t                    \"@type\": \"CommentAction\",\n\t                    \"name\": \"Comment\",\n\t                    \"target\": [\n\t                        \"https:\\\/\\\/one.sightlinemg.com\\\/federaltimes\\\/federal-oversight\\\/2022\\\/08\\\/22\\\/baby-bonds-now-being-tested-in-dc-could-cut-wealth-gap-backers-say\\\/#respond\"\n\t                    ]\n\t                }\n\t            ]\n\t        },\n\t        {\n\t            \"@type\": \"WebPage\",\n\t            \"@id\": \"https:\\\/\\\/one.sightlinemg.com\\\/federaltimes\\\/federal-oversight\\\/2022\\\/08\\\/22\\\/baby-bonds-now-being-tested-in-dc-could-cut-wealth-gap-backers-say\\\/\",\n\t            \"url\": \"https:\\\/\\\/one.sightlinemg.com\\\/federaltimes\\\/federal-oversight\\\/2022\\\/08\\\/22\\\/baby-bonds-now-being-tested-in-dc-could-cut-wealth-gap-backers-say\\\/\",\n\t            \"name\": \"\u2018Baby bonds\u2019 now being tested in DC could cut wealth gap, backers say - Federal Times\",\n\t            \"isPartOf\": {\n\t                \"@id\": \"https:\\\/\\\/one.sightlinemg.com\\\/federaltimes\\\/#website\"\n\t            },\n\t            \"primaryImageOfPage\": {\n\t                \"@id\": \"https:\\\/\\\/one.sightlinemg.com\\\/federaltimes\\\/federal-oversight\\\/2022\\\/08\\\/22\\\/baby-bonds-now-being-tested-in-dc-could-cut-wealth-gap-backers-say\\\/#primaryimage\"\n\t            },\n\t            \"image\": {\n\t                \"@id\": \"https:\\\/\\\/one.sightlinemg.com\\\/federaltimes\\\/federal-oversight\\\/2022\\\/08\\\/22\\\/baby-bonds-now-being-tested-in-dc-could-cut-wealth-gap-backers-say\\\/#primaryimage\"\n\t            },\n\t            \"thumbnailUrl\": \"https:\\\/\\\/one.sightlinemg.com\\\/wp-content\\\/uploads\\\/2026\\\/08\\\/GettyImages-868502474.jpg.jpg\",\n\t            \"datePublished\": \"2022-08-22T19:49:59+00:00\",\n\t            \"dateModified\": \"2026-08-08T04:58:35+00:00\",\n\t            \"description\": \"Children of capital\u2019s poorest families would get up to $25,000 when they reach adulthood for college, to invest in a business or make a down payment.\",\n\t            \"breadcrumb\": {\n\t                \"@id\": \"https:\\\/\\\/one.sightlinemg.com\\\/federaltimes\\\/federal-oversight\\\/2022\\\/08\\\/22\\\/baby-bonds-now-being-tested-in-dc-could-cut-wealth-gap-backers-say\\\/#breadcrumb\"\n\t            },\n\t            \"inLanguage\": \"en-US\",\n\t            \"potentialAction\": [\n\t                {\n\t                    \"@type\": \"ReadAction\",\n\t                    \"target\": [\n\t                        \"https:\\\/\\\/one.sightlinemg.com\\\/federaltimes\\\/federal-oversight\\\/2022\\\/08\\\/22\\\/baby-bonds-now-being-tested-in-dc-could-cut-wealth-gap-backers-say\\\/\"\n\t                    ]\n\t                }\n\t            ]\n\t        },\n\t        {\n\t            \"@type\": \"ImageObject\",\n\t            \"inLanguage\": \"en-US\",\n\t            \"@id\": \"https:\\\/\\\/one.sightlinemg.com\\\/federaltimes\\\/federal-oversight\\\/2022\\\/08\\\/22\\\/baby-bonds-now-being-tested-in-dc-could-cut-wealth-gap-backers-say\\\/#primaryimage\",\n\t            \"url\": \"https:\\\/\\\/one.sightlinemg.com\\\/wp-content\\\/uploads\\\/2026\\\/08\\\/GettyImages-868502474.jpg.jpg\",\n\t            \"contentUrl\": \"https:\\\/\\\/one.sightlinemg.com\\\/wp-content\\\/uploads\\\/2026\\\/08\\\/GettyImages-868502474.jpg.jpg\"\n\t        },\n\t        {\n\t            \"@type\": \"BreadcrumbList\",\n\t            \"@id\": \"https:\\\/\\\/one.sightlinemg.com\\\/federaltimes\\\/federal-oversight\\\/2022\\\/08\\\/22\\\/baby-bonds-now-being-tested-in-dc-could-cut-wealth-gap-backers-say\\\/#breadcrumb\",\n\t            \"itemListElement\": [\n\t                {\n\t                    \"@type\": \"ListItem\",\n\t                    \"position\": 1,\n\t                    \"name\": \"Home\",\n\t                    \"item\": \"https:\\\/\\\/one.sightlinemg.com\\\/federaltimes\\\/\",\n\t                    \"ad_zone\": \"home\"\n\t                },\n\t                {\n\t                    \"@type\": \"ListItem\",\n\t                    \"position\": 2,\n\t                    \"name\": \"Oversight\",\n\t                    \"item\": \"https:\\\/\\\/one.sightlinemg.com\\\/federaltimes\\\/federal-oversight\\\/\",\n\t                    \"ad_zone\": \"federal-oversight\"\n\t                },\n\t                {\n\t                    \"@type\": \"ListItem\",\n\t                    \"position\": 3,\n\t                    \"name\": \"\u2018Baby bonds\u2019 now being tested in DC could cut wealth gap, backers say\"\n\t                }\n\t            ]\n\t        },\n\t        {\n\t            \"@type\": \"WebSite\",\n\t            \"@id\": \"https:\\\/\\\/one.sightlinemg.com\\\/federaltimes\\\/#website\",\n\t            \"url\": \"https:\\\/\\\/one.sightlinemg.com\\\/federaltimes\\\/\",\n\t            \"name\": \"Federal Times\",\n\t            \"description\": \"Federal Times\",\n\t            \"publisher\": {\n\t                \"@id\": \"https:\\\/\\\/one.sightlinemg.com\\\/federaltimes\\\/#organization\"\n\t            },\n\t            \"potentialAction\": [\n\t                {\n\t                    \"@type\": \"SearchAction\",\n\t                    \"target\": {\n\t                        \"@type\": \"EntryPoint\",\n\t                        \"urlTemplate\": \"https:\\\/\\\/one.sightlinemg.com\\\/federaltimes\\\/?s={search_term_string}\"\n\t                    },\n\t                    \"query-input\": {\n\t                        \"@type\": \"PropertyValueSpecification\",\n\t                        \"valueRequired\": true,\n\t                        \"valueName\": \"search_term_string\"\n\t                    }\n\t                }\n\t            ],\n\t            \"inLanguage\": \"en-US\"\n\t        },\n\t        {\n\t            \"@type\": \"Organization\",\n\t            \"@id\": \"https:\\\/\\\/one.sightlinemg.com\\\/federaltimes\\\/#organization\",\n\t            \"name\": \"Federal Times\",\n\t            \"url\": \"https:\\\/\\\/one.sightlinemg.com\\\/federaltimes\\\/\",\n\t            \"logo\": {\n\t                \"@type\": \"ImageObject\",\n\t                \"inLanguage\": \"en-US\",\n\t                \"@id\": \"https:\\\/\\\/one.sightlinemg.com\\\/federaltimes\\\/#\\\/schema\\\/logo\\\/image\\\/\",\n\t                \"url\": \"https:\\\/\\\/one.sightlinemg.com\\\/wp-content\\\/uploads\\\/2026\\\/06\\\/federal-logo-white.png\",\n\t                \"contentUrl\": \"https:\\\/\\\/one.sightlinemg.com\\\/wp-content\\\/uploads\\\/2026\\\/06\\\/federal-logo-white.png\",\n\t                \"caption\": \"Federal Times\"\n\t            },\n\t            \"image\": {\n\t                \"@id\": \"https:\\\/\\\/one.sightlinemg.com\\\/federaltimes\\\/#\\\/schema\\\/logo\\\/image\\\/\"\n\t            }\n\t        },\n\t        {\n\t            \"@type\": \"Person\",\n\t            \"@id\": \"https:\\\/\\\/one.sightlinemg.com\\\/federaltimes\\\/#\\\/schema\\\/person\\\/cc76c831bb37a926738c8391fca7a3b1\",\n\t            \"name\": \"migration\",\n\t            \"image\": {\n\t                \"@type\": \"ImageObject\",\n\t                \"inLanguage\": \"en-US\",\n\t                \"@id\": \"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/9e8d47be443ce94ce7fc357677b5f9c70235bb1f59e7267a102a74af58c04f59?s=96&d=mm&r=gcf4cb6ee0ec29e49e7a963234e4340ec\",\n\t                \"url\": \"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/9e8d47be443ce94ce7fc357677b5f9c70235bb1f59e7267a102a74af58c04f59?s=96&d=mm&r=g\",\n\t                \"contentUrl\": \"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/9e8d47be443ce94ce7fc357677b5f9c70235bb1f59e7267a102a74af58c04f59?s=96&d=mm&r=g\",\n\t                \"caption\": \"migration\"\n\t            },\n\t            \"url\": \"https:\\\/\\\/one.sightlinemg.com\\\/federaltimes\\\/author\\\/migration\\\/\"\n\t        }\n\t    ]\n\t}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"\u2018Baby bonds\u2019 now being tested in DC could cut wealth gap, backers say - Federal Times","description":"Children of capital\u2019s poorest families would get up to $25,000 when they reach adulthood for college, to invest in a business or make a down payment.","robots":{"index":"noindex","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"og_locale":"en_US","og_type":"article","og_title":"\u2018Baby bonds\u2019 now being tested in DC could cut wealth gap, backers say","og_description":"Children of capital\u2019s poorest families would get up to $25,000 when they reach adulthood for college, to invest in a business or make a down payment.","og_url":"https:\/\/one.sightlinemg.com\/federaltimes\/federal-oversight\/2022\/08\/22\/baby-bonds-now-being-tested-in-dc-could-cut-wealth-gap-backers-say\/","og_site_name":"Federal Times","article_published_time":"2022-08-22T19:49:59+00:00","article_modified_time":"2026-08-08T04:58:35+00:00","author":"Ashraf Khalil, The Associated Press","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Ashraf Khalil, The Associated Press","Est. reading time":"7 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/one.sightlinemg.com\/federaltimes\/federal-oversight\/2022\/08\/22\/baby-bonds-now-being-tested-in-dc-could-cut-wealth-gap-backers-say\/#article","isPartOf":{"@id":"https:\/\/one.sightlinemg.com\/federaltimes\/federal-oversight\/2022\/08\/22\/baby-bonds-now-being-tested-in-dc-could-cut-wealth-gap-backers-say\/"},"author":{"name":"migration","@id":"https:\/\/one.sightlinemg.com\/federaltimes\/#\/schema\/person\/cc76c831bb37a926738c8391fca7a3b1"},"headline":"\u2018Baby bonds\u2019 now being tested in DC could cut wealth gap, backers say","datePublished":"2022-08-22T19:49:59+00:00","dateModified":"2026-08-08T04:58:35+00:00","mainEntityOfPage":{"@id":"https:\/\/one.sightlinemg.com\/federaltimes\/federal-oversight\/2022\/08\/22\/baby-bonds-now-being-tested-in-dc-could-cut-wealth-gap-backers-say\/"},"wordCount":1433,"commentCount":0,"publisher":{"@id":"https:\/\/one.sightlinemg.com\/federaltimes\/#organization"},"image":{"@id":"https:\/\/one.sightlinemg.com\/federaltimes\/federal-oversight\/2022\/08\/22\/baby-bonds-now-being-tested-in-dc-could-cut-wealth-gap-backers-say\/#primaryimage"},"thumbnailUrl":"https:\/\/one.sightlinemg.com\/wp-content\/uploads\/2026\/08\/GettyImages-868502474.jpg.jpg","articleSection":["Home","Oversight"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/one.sightlinemg.com\/federaltimes\/federal-oversight\/2022\/08\/22\/baby-bonds-now-being-tested-in-dc-could-cut-wealth-gap-backers-say\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/one.sightlinemg.com\/federaltimes\/federal-oversight\/2022\/08\/22\/baby-bonds-now-being-tested-in-dc-could-cut-wealth-gap-backers-say\/","url":"https:\/\/one.sightlinemg.com\/federaltimes\/federal-oversight\/2022\/08\/22\/baby-bonds-now-being-tested-in-dc-could-cut-wealth-gap-backers-say\/","name":"\u2018Baby bonds\u2019 now being tested in DC could cut wealth gap, backers say - Federal Times","isPartOf":{"@id":"https:\/\/one.sightlinemg.com\/federaltimes\/#website"},"primaryImageOfPage":{"@id":"https:\/\/one.sightlinemg.com\/federaltimes\/federal-oversight\/2022\/08\/22\/baby-bonds-now-being-tested-in-dc-could-cut-wealth-gap-backers-say\/#primaryimage"},"image":{"@id":"https:\/\/one.sightlinemg.com\/federaltimes\/federal-oversight\/2022\/08\/22\/baby-bonds-now-being-tested-in-dc-could-cut-wealth-gap-backers-say\/#primaryimage"},"thumbnailUrl":"https:\/\/one.sightlinemg.com\/wp-content\/uploads\/2026\/08\/GettyImages-868502474.jpg.jpg","datePublished":"2022-08-22T19:49:59+00:00","dateModified":"2026-08-08T04:58:35+00:00","description":"Children of capital\u2019s poorest families would get up to $25,000 when they reach adulthood for college, to invest in a business or make a down payment.","breadcrumb":{"@id":"https:\/\/one.sightlinemg.com\/federaltimes\/federal-oversight\/2022\/08\/22\/baby-bonds-now-being-tested-in-dc-could-cut-wealth-gap-backers-say\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/one.sightlinemg.com\/federaltimes\/federal-oversight\/2022\/08\/22\/baby-bonds-now-being-tested-in-dc-could-cut-wealth-gap-backers-say\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/one.sightlinemg.com\/federaltimes\/federal-oversight\/2022\/08\/22\/baby-bonds-now-being-tested-in-dc-could-cut-wealth-gap-backers-say\/#primaryimage","url":"https:\/\/one.sightlinemg.com\/wp-content\/uploads\/2026\/08\/GettyImages-868502474.jpg.jpg","contentUrl":"https:\/\/one.sightlinemg.com\/wp-content\/uploads\/2026\/08\/GettyImages-868502474.jpg.jpg"},{"@type":"BreadcrumbList","@id":"https:\/\/one.sightlinemg.com\/federaltimes\/federal-oversight\/2022\/08\/22\/baby-bonds-now-being-tested-in-dc-could-cut-wealth-gap-backers-say\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/one.sightlinemg.com\/federaltimes\/","ad_zone":"home"},{"@type":"ListItem","position":2,"name":"Oversight","item":"https:\/\/one.sightlinemg.com\/federaltimes\/federal-oversight\/","ad_zone":"federal-oversight"},{"@type":"ListItem","position":3,"name":"\u2018Baby bonds\u2019 now being tested in DC could cut wealth gap, backers say"}]},{"@type":"WebSite","@id":"https:\/\/one.sightlinemg.com\/federaltimes\/#website","url":"https:\/\/one.sightlinemg.com\/federaltimes\/","name":"Federal Times","description":"Federal Times","publisher":{"@id":"https:\/\/one.sightlinemg.com\/federaltimes\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/one.sightlinemg.com\/federaltimes\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/one.sightlinemg.com\/federaltimes\/#organization","name":"Federal Times","url":"https:\/\/one.sightlinemg.com\/federaltimes\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/one.sightlinemg.com\/federaltimes\/#\/schema\/logo\/image\/","url":"https:\/\/one.sightlinemg.com\/wp-content\/uploads\/2026\/06\/federal-logo-white.png","contentUrl":"https:\/\/one.sightlinemg.com\/wp-content\/uploads\/2026\/06\/federal-logo-white.png","caption":"Federal Times"},"image":{"@id":"https:\/\/one.sightlinemg.com\/federaltimes\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/one.sightlinemg.com\/federaltimes\/#\/schema\/person\/cc76c831bb37a926738c8391fca7a3b1","name":"migration","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/9e8d47be443ce94ce7fc357677b5f9c70235bb1f59e7267a102a74af58c04f59?s=96&d=mm&r=gcf4cb6ee0ec29e49e7a963234e4340ec","url":"https:\/\/secure.gravatar.com\/avatar\/9e8d47be443ce94ce7fc357677b5f9c70235bb1f59e7267a102a74af58c04f59?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/9e8d47be443ce94ce7fc357677b5f9c70235bb1f59e7267a102a74af58c04f59?s=96&d=mm&r=g","caption":"migration"},"url":"https:\/\/one.sightlinemg.com\/federaltimes\/author\/migration\/"}]}},"jetpack_sharing_enabled":true,"distributor_meta":false,"distributor_terms":false,"distributor_media":false,"distributor_original_site_name":"Federal Times","distributor_original_site_url":"https:\/\/one.sightlinemg.com\/federaltimes","push-errors":false,"jetpack_featured_media_url":"https:\/\/one.sightlinemg.com\/wp-content\/uploads\/2026\/08\/GettyImages-868502474.jpg.jpg","_links":{"self":[{"href":"https:\/\/one.sightlinemg.com\/federaltimes\/wp-json\/wp\/v2\/posts\/24941","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/one.sightlinemg.com\/federaltimes\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/one.sightlinemg.com\/federaltimes\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/one.sightlinemg.com\/federaltimes\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/one.sightlinemg.com\/federaltimes\/wp-json\/wp\/v2\/comments?post=24941"}],"version-history":[{"count":1,"href":"https:\/\/one.sightlinemg.com\/federaltimes\/wp-json\/wp\/v2\/posts\/24941\/revisions"}],"predecessor-version":[{"id":24951,"href":"https:\/\/one.sightlinemg.com\/federaltimes\/wp-json\/wp\/v2\/posts\/24941\/revisions\/24951"}],"wp:attachment":[{"href":"https:\/\/one.sightlinemg.com\/federaltimes\/wp-json\/wp\/v2\/media?parent=24941"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/one.sightlinemg.com\/federaltimes\/wp-json\/wp\/v2\/categories?post=24941"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/one.sightlinemg.com\/federaltimes\/wp-json\/wp\/v2\/tags?post=24941"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/one.sightlinemg.com\/federaltimes\/wp-json\/wp\/v2\/coauthors?post=24941"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}