BABY BONDS + SERVICE

Economic Opportunity + Community

I support the ideals and framework of Sen. Cory Booker's bill (S. 3766) with some significant changes.

Booker's Concept:

  • Every American child receives $1,000 at birth.

  • Account is held in trust by the U.S. Treasury and receives up to $2,000 based on parent's annual relationship to the poverty level.

  • At age 18 the account holder can use the funds for college or home purchase.

 

McGuigan's Thoughts:​

  • Account holder is required to have high school diploma or equivalent to claim funds.

  • At age 25 account holder has use of funds without restrictions.

  • With one-year of service, the account holder is given $40,000 in college scholarships.

  • Service could be military or civil.

  • Civil service would be paid, with healthcare, room & board, and focus on community projects in areas away from participant's home community.

Over 70 countries require a service commitment ranging from a few months to years. While this program would not be compulsory, the richness of the benefits for the country, communities and individual, would make it highly attractive.

We have stopped talking to one another, there is too much hate and ignorance. Through shared experiences we can reestablish our community connections and remember we are Americans first not just members of political parties, religious groups, races and genders.

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