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Louisiana teachers' union concerned about educators' future; Supreme Court hears arguments in Trump immunity case; court issues restraining order against fracking waste-storage facility; landmark NE agreement takes a proactive approach to CO2 pipeline risks.

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Speaker Johnson accuses demonstrating students of getting support from Hamas. TikTok says it'll challenge the ban. And the Supreme Court dives into the gray area between abortion and pregnancy healthcare, and into former President Trump's broad immunity claims.

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The urban-rural death divide is widening for working-age Americans, many home internet connections established for rural students during COVID have been broken, and a new federal rule aims to put the "public" back in public lands.

WA Baby Bond Bill Could Help Address Racial Wealth Gap

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Wednesday, February 22, 2023   

In Olympia, lawmakers want to address the wealth gap early with a fund set aside for children of low-income households.

The Washington future fund program would create what are called baby bonds. Under the program, the state would set aside $4,000 for children who are covered by Medicaid on their first birthday.

Gabriela Quintana, senior policy associate for the Economic Opportunity Institute, said the policy would address the racial wealth gap, in which families of color have faced barriers to building generational assets.

"It really helps level the playing field with low income families," Quintana noted. "And in particular with low income BIPOC communities that have been left out of these investment opportunities."

Washingtonians would have access once they turned 18 and could use the money to buy a home, pursue postsecondary education or start a small business. The fund would be available until they were 35.

About 40,000 Washington state children are born under Medicaid each year. Opponents say the money set aside for this program should instead be spent on people who need it now.

Quintana contended the policy pairs well with the housing investments the governor and legislators want to make. She argued the state also needs to fill the critical need for more housing.

"Great, but who's going to buy those houses?" Quintana asked. "Is it going to be investors, developers? Or is it going to be communities that really could use a home and to pass on to their next generation?"

Time is running out for the bill. It has to pass out of the House Appropriations Committee by Friday to stay alive this session.

Disclosure: The Economic Opportunity Institute contributes to our fund for reporting on Budget Policy and Priorities, Education, Livable Wages/Working Families, and Senior Issues. If you would like to help support news in the public interest, click here.

References:  
House Bill 1094 2023

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