Testimony Baby Bonds Provide an Opportunity to Close the Large Racial Wealth Gap
Steven Brown, Signe-Mary McKernan
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Steven Brown, a senior research associate and associate director of the Racial Equity Analytics Lab, and Signe-Mary McKernan, vice president for labor, human services, and population, provided written testimony before the Council of the District of Columbia’s Committee on Business and Economic Development. The hearing included a discussion of the Child Wealth Building Act of 2021 (B24-236) and tax policy proposals to build wealth equity in the District’s COVID-19 economic recovery plans. In separate oral testimony, Brown demonstrated how baby bonds can be a bold wealth-based solution to addressing the large racial wealth gap.

Research and Evidence Family and Financial Well-Being Tax and Income Supports Research to Action Equity and Community Impact Upward Mobility
Expertise Wealth and Financial Well-Being Taxes and the Economy Upward Mobility and Inequality Early Childhood
Tags Inequality and mobility Baby bonds and child savings accounts Children and youth Greater DC State and local finance
Cities Washington-Arlington-Alexandria, DC-VA-MD-WV