Joint Center leaders argue that the president’s new accounts for newborns will widen the racial wealth gap by rewarding families who already have the means to save, while leaving low-wealth Black households behind. They urge Congress to adopt progressive Baby Bonds instead, with larger automatic investments for children from families with the least wealth.
Tag: White families
Posted inCommentary
Budgeting and saving: Telling your money where to go
Frances Murphy Draper is the publisher and CEO of the AFRO. This week she reflects on the resilience, contributions and financial empowerment of Black communities—highlighting how faith, determination and collective action have shaped our economic journey.