In oral and written testimony, Children’s HealthWatch urges the Massachusetts Joint Committee on Financial Services to advance two asset-building bills—establishing a Massachusetts Baby Bonds Program (H.48) and a statewide matched savings program (H.1158/S.737). Poverty and wealth inequality, rooted in long-standing policy choices and structural racism, are major drivers of poor child and family health outcomes. Drawing on more than 25 years of research with over 80,000 caregivers, we know how stagnant wages, high housing costs, and historic disinvestment have limited economic mobility, particularly for families of color, and how early-life investments are especially effective in mitigating poverty’s long-term harms.
Baby Bonds are a targeted strategy to reduce wealth gaps by providing seed capital to children born into the lowest-income families, and matched savings as a complementary tool that helps families build assets for education, housing, transportation, and emergencies. Together, the bills provide evidence-informed, equity-focused policies that would strengthen family stability, improve child health, and promote long-term economic mobility in Massachusetts.