- Newark Mayor Cory Booker, who hopes to make a jump soon to the U.S. Senate, proposed a new plan that would see the federal government deposit $400 annually into college trust funds for children in low-income families.
- The plan would also provide for an annual $100 in matching federal funds when families, states or philanthropists put money into the accounts.
- The accounts will be outlined in a larger set of anti-poverty-related proposals from Booker Monday.
From the article:
... “It has been estimated that child poverty costs the U.S. $500 billion annually — nearly 4 percent of the GDP,” Booker writes, adding that children deprived of education and benefits are less able to compete in the global marketplace.
The plan comes as Booker vies for the Democratic Senate nomination with Rep. Frank Pallone (D-6th Dist.), Rep. Rush Holt (D-12th Dist.) and Assembly Speaker Sheila Oliver (D-Essex). ...