The Indicator from Planet Money : NPR

Nolan Osiel Osorio Ramirez, born July 1, 2023, at the Hospital of Central Connecticut, was the first baby to receive a baby bond account under Connecticut's just-launched program. (Courtesy Hartford HealthCare)

Hartford HealthCare/Hartford HealthCare

Baby bond fever is catching on. In recent years, states like Connecticut have been experimenting with giving newborns government-seeded accounts that grow tax-free until they are 18. Now, President Trump’s signature tax and spending bill will give a thousand dollars to every U.S.-born baby through 2028. On today’s show, what are baby bonds and could they help tackle wealth inequality?

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