Senator Cory Booker just announced plans to introduce legislation that would provide every child with a fair shot at the American Dream. As a birthright, every child, upon being born, would be given an “American Opportunity Account” seeded with $1,000. Every year, through the tax code, children would receive up to an additional $2,000 deposit depending on family income. With interest, this would be a nest egg of over $46,000 for the lowest income children to access higher education, homeownership or retirement.
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