Skip to content

Massachusetts Eyes Baby Bond Program to Narrow Racial Wealth Gap

   

   

Photographer: Mladen Zivkovic/iStockphoto

Massachusetts Treasurer Deb Goldberg is taking notes from a pioneering program as she convenes a task force to explore the issuance of the state’s first baby bonds. 

Goldberg’s office is in touch with Connecticut treasurer Shawn Wooden, who was the first to launch such a program in 2021, she said in an interview. Baby bonds are government-funded trust accounts issued to newborn children. These accounts are expected to generate wealth over the course of their childhood. Studies have shown such programs can help narrow the racial wealth gap.