(Newsworthy.news) – A Democratic Congressman running against Joe Biden for the Democratic nomination in the 2024 presidential election has proposed giving endowments to all American babies.
Rep. Dean Phillips of Minnesota, who is challenging the commander-in-chief in his bid for re-election, announced on January 23 his belief that the government should give $1,000 to each American citizen when they are born.
During a recent interview with Jake Tapper of CNN, Phillips explained that he is the “one candidate” ready to win the competition and who has been paying attention to voters and considering the issues they are most concerned about. One such issue, he pointed out, is high cost of living.
Phillips detailed how he would address this concern if elected president, saying that he would grant $1,000 to babies born American citizens. The grant would be titled the American Dream Account, and, in addition to its initial thousand-dollar deposit, the value will increase while the child goes through school.
He said that the endowment is meant to offer “equality of opportunity” throughout the ongoing rise in the cost of living. While the grant begins for infants, those citizens will be taught investing knowledge and skills in both elementary and high school. Upon turning 18 and graduating high school, Phillips explained, they would receive an account “worth up to $20,000.”
The candidate also took aim at President Biden, saying the current policies with which he is running the country are “costs and chaos.” Phillips’ promise of endowments for newborn Americans arrived amid his slow start to his race for the Democratic nomination.
The Minnesota legislator announced his plans to run for president at the end of October 2023, at which time he said his intentions were to “pass the torch” of the country’s leadership to the next generation. Phillips is 54 years old, and Biden is 81.
Polling numbers released on January 21 showed that Phillips remains behind Biden in the Democratic race.
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