February 22, 2023

New Bill Would Give Some Americans $45,000

A new bill seeks to provide Americans with as much as $45,000 by the time they turn 18.

Congressional Democrats Sen. Cory Booker and Rep. Ayanna Pressley reintroduced the American Opportunity Accounts Act — also known as “baby bonds.”

“U.S. Senator Cory Booker (D-N.J.) and U.S. Representative Ayanna Pressley (D-MA) today reintroduced the American Opportunity Accounts Act, legislation that would create a federally-funded savings account for every child in order to make economic opportunity a birthright for everyone in America and help close the racial wealth gap,” Sen. Booker’s office said in a statement.

The current annual inflation rate is 6.4 percent — significantly higher than the Federal Reserve’s target rate of 2 percent.

The bill “would give every American child a fairer chance at economic mobility by creating a seed savings account of $1,000 at birth,” Rep. Pressley’s office said in a press release. “The funds would sit in an interest-bearing account that would receive additional deposits each year depending on family income. At age 18, account holders could access the funds in the account for allowable uses like buying a home or paying for educational expenses.”

According to the press release, the legislation would be “fully paid for by making common sense reforms to federal estate and inheritance taxes, including restoring the estate tax to 2009 levels.”

Under the plan, for a family of four with an income of $25,100 or less, the account would grow to $46,215 by the child’s 18th birthday. Families with higher incomes would receive less. For a family of four with an income of $56,475 or less, the account would reach an estimated $12,815 by the child’s 18th birthday.

“Americans today are having a harder time accessing homeownership, higher education, and a secure retirement than their parents did just a generation before them,” Booker said in a statement. “‘Baby Bonds’ would fix our broken tax code by providing every American child with startup capital for their life, and helping to drive down the wealth inequality that holds American families back from their full potential.”

Source: Newsweek

13 comments on New Bill Would Give Some Americans $45,000

  1. Glenn LeMaster says:

    Same old shit. Give money to people who won’t work, by taking it from people who WILL work!

    1. gdblake says:

      So basically you want to steal the inheritance money my wife and I saved and put aside as a safety net for our children to give it to someone else’s child. You already took money I worked to earn from me for years to give “child tax credits” to fund raising someone else’s children. Enough already!

    2. Don says:

      Buying votes.

      1. Tim says:

        with other people’s money

  2. Art R says:

    Concur with Mr. LeMaster! More welfare for the lazy!!

  3. KENL says:

    How can these idiots be that stupid?

  4. CaptSteve says:

    Corey Booker is sponsoring the bill. That it and of itself should tell you all you need to know about stupidity.

  5. Dee M says:

    Another stupid idea from Booker.

    1. Timothy P says:

      they will continue the theft, till some “real men” stand up to them and say NO. Amerika is full of cowards, scared of sissies & perverts in gov’t. (your masters) NO you are NOT free in Amerika

  6. Rob says:

    Joe Biden is a false storefront for Obamas unconstitutional 3rd. term, the same thing Hillary was to be had Trump not cleaned her clock! The real reason that Trump was attacked daily, during his Presidency was because he set back this devious plan 4-years!

  7. Rob says:

    The Democrats are all criminals and what they are doing should shut them down for ever, and take the Federal Government with them!
    We don’t give a POTUS a 3rd. term, so they just did it in secret! The Obama Administration is running America and it needs to stop! Obama, Ayer’s, Dorn, Soros, Clinton, Holder, Rice, Jarrett, Kerry, Biden, Harris, The Federal Government, The Justice Department, and the DNC, are all guilty of Treason!

  8. Rob says:

    Obama on his late night tv rounds after Trump won the election saying we can’t have a third term in America was snide remarks knowing that that was exactly what was coming! Obama is a communist, just like his mother Stanley Ann Dunham, the friend of the Ayer’s family, who put Obama through Harvard!

  9. akashara says:

    This is giving priority treatment based on skin color. Just like reparations, I say HELL NO!

Comments are closed.

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