By Bob Katzen

This bill would create a Baby Bonds program in Massachusetts to provide funds at birth to certain low-income residents which can be accessed when the account holder turns 18 to support asset-building activities such as post-secondary education, homebuying or investing in a business.

“I am proud to have filed [this bill] to start building an effective and transformational baby bonds program in the commonwealth that will build wealth from the bottom up, and the middle out, to put hard-working residents on a trajectory for wealth-creation from day one,” said sponsor Sen. Paul Feeney (D-Foxborough). “By automatically investing from day one of a child’s life, we are providing a jump-start to individuals otherwise at a disadvantage by beginning to narrow the racial wealth gap and giving our poorest residents a fighting shot at the middle class and the American Dream.”