Outspoken Senator and potential 2020 candidate Cory Booker unveiled his newest proposal to help erase America’s “wealth gap” in recent days; announcing his plan to hand-out upwards of $50,000 to provide “opportunity accounts” to the nation’s poorest residents.
According to Vox, Booker’s plan would provide lower-income children with “significant assets” by the time they reach adulthood.
“America has a massive, growing racial wealth gap. The median white family today holds nearly 10 times the wealth of the median black family,” writes Vox.
“Sen. Cory Booker (D-NJ) is introducing a bill aimed at closing that gap. His idea is to give lower-income kids a sizable nest egg (nearly $50,000 in some cases) that they could use for wealth-building purchases, like a down payment on a house or college tuition,” adds the article.
“It would be a dramatic change in our country to have low-income people break out of generational poverty,” said Booker. “We could rapidly bring security into those families’ lives, and that is really exciting to me.”
Read the full report at Vox.