A new bill from House and Senate Democrats would make annual payments to the poorest children in an effort to close the 'racial wealth gap,' paid for with higher estate taxes.
this week proposed a bill that would instruct the federal government to give anyone born in the U.S. after 2005 a $1,000"seed savings account," and then make contributions to that account until they are 18 — a plan that sponsors say is aimed at closing America’s"racial wealth gap."
They estimate that children in the poorest families would have $46,000 to use for school or buying a home by the time they turn 18, and Booker said in a statement that the plan is explicitly aimed at fixing"wealth inequality." "Black lives and Black wealth matter, which is why Congress must pass our bill without delay," she added.
"These disparities were created by generations of government policy, contributing to the national racial wealth gap," her office said.
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