Children born into poverty will have a leg up in Connecticut starting in July.
Any baby born after July 1 covered under Husky Insurance will be automatically enrolled.
In the program, $3,200 will be invested in the child’s name.
The Office of the Treasurer manages the money and when the child turns 18, they can apply for it.
It has to be used for buying a home in Connecticut, starting or investing in a business, paying for college or job training or saving for retirement.
A total of $381 million will go toward the Baby Bonds.
“It’s really a shot to break the cycle of generational poverty,” said Treasurer Erick Russel, (D) Connecticut.
“I want them to have hope and a dream to want something better,” added Sen. Patricia Billie Miller, (D) Stamford.
State officials say the funds are being repurposed from a reserve that was set aside in 2019 …