“Republicans are stealing a good idea and twisting it.”

Baby Bonds Championed by Pressley & Booker Would Address Wealth Gap, End Cycles of Poverty, Help 18 Year-Olds Pay for College, Home, or Starting a Business

Video (YouTube)

WASHINGTON – Today, Congresswoman Ayanna Pressley (MA-07) delivered a floor speech in which she slammed the so-called “MAGA Accounts” proposal in Republicans’ reconciliation bill. Rather than support this regressive proposal, Congresswoman Pressley urged her colleagues to support Baby Bonds, her bicameral legislation with Senator Cory Booker (D-NJ) to close the racial wealth gap, disrupt cycles of intergenerational poverty, and make economic opportunity a birthright for every child.

A transcript of the Congresswoman’s remarks, as delivered, is available below, and the full video is available here.

Transcript: Pressley Calls for True Baby Bonds, Calls Out “MAGA Accounts”

House of Representatives

May 19, 2025

Mr. Speaker,

I rise in support of investing in every child’s future.

Six years ago, I joined Senator Booker to introduce Baby Bonds legislation to disrupt the cycle of intergenerational poverty, close the racial wealth gap, and ensure every 18-year-old has the financial opportunity to go to college, to buy a home, or to start a business.

Now, Republicans are stealing a good idea and twisting it.

The so-called ‘MAGA Accounts’ in their reconciliation bill are intentionally designed to help the rich get richer, while poor children are left further and further behind.

Their proposal would weaponize the tax code to exacerbate wealth inequality, ignore the expertise of economists, and penalize states and non-profits that try to help low-income families.

In America, a child born into poverty is likely to stay there through their adult lives.

That is a policy choice – and a violent one.

Our babies deserve better. Our babies deserve opportunity.

I urge my colleagues to reject this regressive proposal and support true Baby Bonds.

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