New Jersey Senator Cory Booker made waves with his passionate speech during the Supreme Court hearing for the confirmation of Judge Brett Kavanaugh. Now he’s back with proposed legislation that he is likely hoping will help win over voters for his 2020 election bid. Booker is putting forth the idea of providing payments to low-income children, only accessible for important expenses after they turn 18.
The fund is designated to bridge the gap between rich and poor children, and what Booker terms, “generational poverty.” It is designed to be comparable to the benefits that many wealthy children receive from their parents.
The plan has a few different parts. Low-income children would be eligible for a $1,000 grant right after they are born. Each year, there would be deposits of up to $2,000, depending on the parents’ income.
These funds would become eligible for withdrawal after the child turns 18 and becomes a legal adult. At that point, it would be eligible to be used for serious expenses like schooling or a down-payment on a home or piece of property.
The requirement for serious expenses is intended to encourage these children from low-income families to invest in “asset-building” purchases. Generational poverty is often caused by a lack of assets/ownership – the parents rent, spend all their money, and at the end of the day are left with nothing.
The wealth gap is becoming an increasingly important political discussion with the upcoming elections. Both sides are claiming to be doing their part to support the lower and working class, but they have very different ways of going about it.
Democratic candidates this election cycle have advocated for health care for all, increased economic security and development for the lower and middle classes, and an increase in good-paying jobs for all.
Their campaigns have led to President Trump referring to Democrats as a whole as both an “angry mob,” and “radical socialists.” They, in turn, have pointed to the fact that the United States government already pays more per capita on health care than all but 2 other countries in the world.
No matter the statistics, the country couldn’t be further apart on this issue and the vast majority of others. The wealth gap has been a big part of this, as those with money and power do their best to maintain the status quo.
This new legislation from Booker is just one of many efforts Democrats have recently made to appeal to low-income and middle-class voters. It could prove to be either a boom or a bust with a very important midterm election coming up in just a few days.
Conservatives have used these proposed legislative moves as evidence that the Democratic platform has moved too far left. In an appeal to independent voters, Trump has continued to rail about the “socialist” tendencies of modern Democrats. But with an increasingly polarized citizenry, only time will tell how these possible moves will be interpreted en masse.
What do you think of Senator Booker’s proposed legislation? Share in the comments below!