skip to main content
skip to newscasts

Tuesday, November 28, 2023

Public News Service Logo
facebook instagram linkedin reddit youtube twitter
view newscast page
play newscast audioPlay

Air pollution linked to coal plants more deadly than previously thought; Israel-Hamas truce extends as aid reaches Gaza; high school seniors face big college application challenges.

view newscast page
play newscast audioPlay

House Republicans differ on January 6th footage, Speaker Johnson says any Ukraine funding must include changes to border policy and former New Jersey Governor Christie says former President Trump is fueling anti-Semitism and hate.

view newscast page
play newscast audioPlay

Rural low income youth, especially boys, experience greater economic mobility than those in cities, a new government rule should help level the playing field for small poultry growers, and the Kansas Governor wants her state to expand Medicaid.

Baby Bonds Aim to Close Racial Wealth Gap in MA

play audio
Play

Tuesday, December 27, 2022   

A task force assembled by the state treasurer's office said investing in government-issued Baby Bonds could help close the racial wealth gap in the Commonwealth. Many communities of color have historically been excluded from opportunities to build wealth, forcing many children from low-income families to forgo educational opportunities in adulthood.

Leimary Llopiz, advocacy assistant at the YWCA of Southeastern Massachusetts, said creating trust accounts for newborns sets both the child and family on a path to success.

"People that we work with," she said. "They really don't have the income to even save money never mind thinking ahead of time of how they're going to be able to provide for their children when they get to a certain age."

A state task force advised an initial program with funding from the American Rescue Plan of $6,500 per child in an endowment that is invested and allowed to grow over time. Those funds would be made available when the child turns 18 and could be used for college, starting a business or even to purchase a home.

Massachusetts is an expensive place to live. A recent survey reported the poverty rate in the Commonwealth is higher than in twenty-one other states. A 2015 Federal Reserve study found that in the greater Boston area alone, the median
net worth for white households is nearly $250,000 while for Black households it's just $8. Llopiz said a state-wide Baby Bonds policy would help lift entire networks of low-income families out of poverty.

"In my culture, we are caregivers to our parents and grandparents so meaning once we start getting a job we're not only providing for helping our house now we're helping our family. We're helping their homes," she said.

Massachusetts would join Connecticut and the District of Columbia in establishing the baby bonds program, the cost of which depends on the number of children eligible for public assistance as well as children under 1-year-old in foster care.

Senator Cory Booker of New Jersey and Massachusetts Congresswoman Ayanna Pressley have also filed a bill to establish a national Baby Bonds program.


get more stories like this via email
more stories
Based on current environmental impacts, residents of Petersburg have a life expectancy 10 years lower than the national average, according to U.S. News & World Report. (Adobe Stock)

Environment

play sound

The Federal Energy Regulatory Commission approved a plan extending a natural-gas pipeline in Virginia. The Virginia Reliability Plan and Transcot's …


Social Issues

play sound

Today is Giving Tuesday, a day when millions of Americans are expected to make charitable donations. But it can also be a field day for scammers…

Health and Wellness

play sound

Starting Friday, North Carolinians will have greater access to health care as the long-awaited Medicaid expansion is launched. Medicaid will …


Democrats' trust in the media has fallen 12 points over the past year, to 58%, and compares with 11% among Republicans and 29% among independents, according to Gallup. (Christian Schwier/Adobe Stock)

Social Issues

play sound

A new project in Southern Arizona aims to support local reporting and enable greater access to local news and information. Earlier this month…

Social Issues

play sound

As the weather turns colder, two groups of people in one North Dakota city that are generations apart appear to be in good shape to navigate housing …

Social Issues

play sound

Illinois high school seniors have new hurdles to overcome to get to college. High school students are waiting several extra weeks to get their hands …

Environment

play sound

Clean-energy companies and supporters are calling on federal officials to prioritize the development of charging infrastructure for EV powered medium …

 

Phone: 303.448.9105 Toll Free: 888.891.9416 Fax: 208.247.1830 Your trusted member- and audience-supported news source since 1996 Copyright 2021