Should every US state make a law that gives every newborn baby $500 in a savings account?

Every child born in California would get a $500 savings account to start building a nest egg for college or down payment for a home, under a bipartisan bill in the state Senate. The proposal would cost taxpayers about $285 million a year. A similar program has increased savings in Great Britain since 2002, but California would be the first state in the nation to enact it.

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