Ayanna Pressley: “I rise in support of investing in every child's future. Six years ago, I joined Senator Booker to introduce baby bonds…”

“I rise in support of investing in every child's future. Six years ago, I joined Senator Booker to introduce baby bonds legislation to disrupt the cycle of intergenerational poverty, close the racial wealth gap, and ensure every 18-year-old has the financial opportunity to go to college, buy a home, or start a business. Now, Republicans are stealing a good idea and twisting it. The so-called MAGA accounts in their reconciliation bill are intentionally designed to help the rich get richer while poor children are left further and further behind. Their proposal would weaponize the tax code to exacerbate wealth inequality, ignore the expertise of economists, and penalize States and non-profits that try to help low-income families. In America, a child born into poverty is likely to stay there through their adult lives. That is a policy choice, and a violent one. Our babies deserve better. Our babies deserve opportunity. Mr. Speaker, I urge my colleagues to reject this regressive proposal and support true baby bonds.”