LISTEN: 'Baby Bonds' Proposal Aims To Tackle Connecticut Wealth Gap

According to a 2019 report by the Federal Reserve, the typical white family in America has five times the wealth of the typical Hispanic family and eight times the wealth of the typical Black family. One thing this means is that kids from these families are at a disadvantage from birth compared with kids from wealthier families. Would a gift of a taxpayer-funded nest egg at birth be an effective solution? State Treasurer Shawn Wooden thinks so. He has proposed the CT Baby Bonds plan -- aka House Bill 6659. Wooden visited with Connecticut Public Radio’s All Things Considered to talk about the benefits of the measure.