Bristol, Norfolk Sen. Feeney To Share Baby Bonds Task Force Report

BOSTON, MA — Bristol and Norfolk District Sen. Paul Feeney will join other members of the state's Baby Bonds Task Force to share their most recent report on Monday, his office announced.

Led by Treasurer Deborah Goldberg, the task force will share their report on establishing an at-birth Massachusetts Baby Bonds program, "an asset-building policy aimed at increasing economic opportunities for vulnerable communities," a news release said.

Goldberg announced that the task force would be formed in March 2022. According to the state:

"The Baby Bonds Task Force is a diverse cross-sector collaboration with members who have work, research, or volunteer experience in racial wealth equity, child welfare, public policy, community engagement, and asset-building initiatives. The Task Force will also serve as an instrument to engage with impacted communities to allow community participation in the design of the program."

Officials say that baby bonds would automatically provide children born in Massachusetts with a significant financial investment in a government-owned account.

A collective fund would be established, through which the state invests funds for the benefit of eligible children. Families cannot invest into the baby bond account.

Baby bonds funds would become available to each child when they turn 18, and can be used to purchase assets that can increase in value over time or generate wealth like higher education or home buying.

For more information on the program, click here.