A Victory For Maryland's Future: Baby Bonds Study Moving Forward

Maryland is taking a meaningful step toward expanding economic opportunity for children and families. The state’s budget that was signed in May by Governor Moore includes a provision directing the Comptroller to study the feasibility of a statewide baby bonds program that could help children born into poverty build wealth and achieve long-term financial security. With this study underway, Maryland is one step closer to making baby bonds a reality for children across the state.

At the Greater Washington Community Foundation, we’re proud to have played a leading role in bringing the idea of baby bonds to the forefront in Maryland. We were grateful for the opportunity to introduce the concept of a statewide baby bonds program to Delegate Mark Edelson and to work closely with him to craft House Bill 753 — the precursor to the provision ultimately included in the budget bill. We also provided testimony in support of the bill, recognizing its potential to chart a new course for building generational wealth, particularly for children from low-income families.

Maryland isn’t starting from scratch. Last year, the Community Foundation and our partners launched Brilliant Futures, a program serving up to 400 kindergartners in Prince George’s and Montgomery Counties. Each student receives an initial deposit of $1,000, with up to $1,000 deposited annually through 12th grade. Upon graduation, these students will have approximately $13,000 to use for education, homeownership, entrepreneurship, or other wealth-building activities. This study marks a pivotal step in our ongoing effort to transform innovative pilot programs like Brilliant Futures into public policy — turning bold ideas into lasting impact for children across the region.

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Source: Greater Washington Community Foundation