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In New Jersey, a Proposal for $1,000 ‘Baby Bonds’
Route Fifty: Thousands of children born this year in New Jersey would be eligible for a $1,000 deposit from the state under a plan that Gov. Phil Murphy announced on Tuesday, aiming to help the state’s youngest residents build a nest egg that they can use for costs like college tuition.
The Democratic governor included the “baby bond” program in a revised fiscal 2021 budget proposal and said that it would be the first statewide initiative of its kind if enacted.
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