Prosperity Now, an advocate for racial economic justice, hosted a day of action on Capitol Hill, aimed to rally support for Baby Bond as a powerful solution to bridge the racial wealth gap. Over 100 activists, lawmakers, and supporters came together to champion a national-level program building upon the success of local Baby Bond initiatives across the country.
Working with Sen. Cory Booker and Rep. Ayanna Pressley, Prosperity Now advocated for the reintroduction of the American Opportunity Accounts Act, where every child receives an initial $1,000 investment at birth, coupled with annual deposits of up to $2,000.
Children from households with the lowest incomes receive the most substantial investments. Current analysis from Prosperity Now reveals that white households hold 11 times more wealth than Black households and nearly six times more than Latinx households, placing children of color at a financial disadvantage from the very beginning.