Connecticut's Baby Bond Compromise to Narrow Wealth Gap.

Connecticut State Treasurer Erick Russell and Gov. Ned Lamont have reached a compromise to launch the Baby Bonds Trust program on July 1, investing $600 million over the next 12 years in the economic futures of children in poverty. The program will deposit $3,200 in trust for each baby born after July 1 and covered by HUSKY, the state’s Medicaid program, and the funds will grow over the course of their youth and early adulthood. The compromise avoids an estimated $165 million in interest charges and enhances the odds of reaching an amicable deal on a new state budget and bond package.