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Treasurer, health and advocacy groups urge committee to back baby bonds to narrow wealth gap
Summary
Treasurer Goldberg and a coalition of health, research and anti‑poverty groups urged the Joint Committee on Financial Services to report House 48 favorably, describing baby bonds as a targeted way to help children from low‑income families build assets for education, homeownership or business capital.
Treasurer Goldberg told the Joint Committee on Financial Services that House 48, an act to establish a Massachusetts baby bonds program, would create seed investments at birth for children born into families below 200% of the federal poverty level.
"Baby bonds are a powerful tool to help address these challenges by providing children whose families are below the 200% federal poverty rate with a seed investment at birth," the treasurer said, describing a program that would grow funds until children reached adulthood and could use them for education, homeownership or business capital.
Speakers from health and policy organizations expanded that case.…
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