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Search resuls for: "Madeline Brown"


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☆ New bill in Congress calls for creating children's savings accounts from birth. Here's how it would work
  + stars: | 2024-01-31 | by ( Lorie Konish | ) www.cnbc.com   time to read: +4 min
The plan calls for providing savings accounts for every child in the U.S. on state 529 college savings platforms, which would be managed by state Treasurers. More from Personal Finance:IRS to launch free tax-filing pilot programJamie Dimon: Improving earned income tax credit is 'no brainer'Biden has forgiven student debt for millions. Children in households that are eligible for the earned income tax credit — which aims to reduce the federal tax burden for low- to moderate-income workers — would receive additional aid. The proposal comes as Congress is poised to consider a new expansion of the child tax credit. Estimates have found the new child tax credit could help about 16 million children from low-income families in the first year, according to the Center on Budget and Policy Priorities.
Persons: Democratic Sens, Bob Casey of Pennsylvania, Chuck Schumer, Ron Wyden, Don Beyer of Virginia, Joyce Beatty, Suzan, Jamie Dimon, Biden, Casey, Momo, Roth, I'm, Madeline Brown Organizations: Democratic, New, Reps, Finance, IRS, Getty, Center, Budget, Urban Institute, D.C Locations: New York, Oregon, Joyce Beatty of Ohio, Washington, U.S
☆ A 'baby bond' bill to give every child $1,000 at birth has been reintroduced in Congress. How it would work
  + stars: | 2023-02-21 | by ( Lorie Konish | ) www.cnbc.com   time to read: +2 min
The policy is aimed at narrowing the wealth gap, which has grown dramatically in the past 50 years, according to the lawmakers. The idea of baby bonds is getting traction in some states. Baby bond legislation has passed in California, Connecticut and Washington, D.C. Another eight states have introduced legislation, according to the Urban Institute, including Iowa, New Jersey, New York, Wisconsin, Washington, Delaware, Nevada and Massachusetts. A national policy may reduce the wealthy disparity between young white and Black Americans to a ratio of 1 to 4, according to the research. Estimates have found young white Americans have 16 times the wealth of young Black Americans, based on median incomes.
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