Fulton planning how to distribute $18M in rental assistance

Democrats ProposePlan to Provide EveryChild With a $1,000Savings Account.On Thursday, Democrats reintroduced legislationthat would provide every child with an interest-accruingfund managed by the Treasury Department.The plan is spearheaded by Senator Cory Bookerand Representative Ayanna Pressley.It was cosponsored by Senate Majority Leader Chuck Schumerand Senators Elizabeth Warren, Bernie Sanders and Dick Durbin. .According to their legislation, each child would receive an “American Opportunity Account”at birth, seeded with $1,000. .From then on, each year the child would receive between$0 and $2,000, depending on family income. .At age 18, the recipient could access their accountand utilize the funds for “wealth-building activities.” .These activities include higher education,homeownership and entrepreneurship. .According to Booker, “Baby Bonds” representsa “once-in-a-generation” chance to “close the racialwealth gap” and “unleash economic opportunity.”.When it comes to racial justice,we cannot afford to wait. As we emergefrom this dark period of our nation’shistory, Baby Bonds is exactly thetype of universal, race consciousprogram necessary to build oureconomy back better, Cory Booker, via 'Business Insider'.The legislation also noted that the cost of“Baby Bonds” would be about $60 billion annually.Booker previously argued that hiking estate taxes and closingtax breaks for the wealthy could easily offset the cost.In a country as wealthy as ours,every person should have access toeconomic opportunity and the chanceto build assets and create wealth, Cory Booker, via 'Business Insider'