A pilot program aimed at helping New York’s children build a foundation for their future is becoming a universal initiative. Beginning this fall, every New York City kindergartener will receive a $100 “baby bond” to help set up the city’s youngest students with the very beginnings of their savings.
To tackle New York City’s persistent racial wealth disparity, the city will create savings plans next year for every public kindergarten student that will have a minimum deposit of $100 in each account as part of a slate of economic justice programs in honor of Juneteenth, Mayor Bill de Blasio announced Thursday.
Mayor Bill de Blasio and the Taskforce on Racial Inclusion and Equity (TRIE) today announced the NYC Juneteenth Economic Justice Plan: Building Generational Wealth. The NYC Juneteenth Economic Justice Plan seeks to build generational wealth and confront the persistently growing racial wealth gap in America.