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Tribal advocates keep up legal pressure for fair political maps; 12-member jury sworn in for Trump's historic criminal trial; Healthcare decision planning important for CT residents; Debt dilemma poll: Hoosiers wrestle with college costs.

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Civil Rights activists say a court ruling could end the right to protest in three southern states, a federal judge lets January 6th lawsuits proceed against former President Trump and police arrest dozens at a Columbia University Gaza protest.

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Rural Wyoming needs more vocational teachers to sustain its workforce pipeline, Ohio environmental advocates fear harm from a proposal to open 40-thousand forest acres to fracking and rural communities build bike trail systems to promote nature, boost the economy.

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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