Res-pond to the 2 documents below with why you agree or disagree…

Question Answered step-by-step Res-pond to the 2 documents below with why you agree or disagree… Res-pond to the 2 documents below with why you agree or disagree and why?1. Omnibus Committee: SB 4: Baby Bonds 1.Background:The wealth gap has been increasing in the United States since 1983. This could be visualized as households of different sizes have experienced varying income growth, black households in the US have accumulated on average seven times less wealth than that of whites. The gap has and will continue to widen as income levels of working households are unable to meet with rising prices due to inflation. Children from low income families are unable to afford basic necessities such as proper education. 2.Proposal:Government’s establish “Baby bonds” valued at $54,700 to $280,300 per person according to their situation. This bond will bring the ratio of the national median net worth of children raised from 14% to 74%. This would allow low income families the opportunity to provide for their households and provide for their children. This proposal intends to grow generational wealth for lower income families/non-white Americans. This is the goal to close the gap of racial wealth. Government’s establish “Baby bonds” valued at $54,700 to $280,300 per person according to their situation. This bond will bring the ratio of the national median net worth of children raised from 14% to 74%. This would allow low income families the opportunity to provide for their households and provide for their children. This proposal intends to grow generational wealth for lower income families/non-white Americans. The main goal is to close the gap of racial wealth between White Americans and non-white Americans. The baby bonds will give the families 1,000-2,000 dollars per month until they are 18.  3.Budgeting:By taxing high income earners this would provide with the sufficient funding required while also maintaining inflation rates at a natural level meaning purchasing power of households will be stable. To be able to meet the goal of providing $54,700 to $280,300 per person this proposal is estimated to require $ 11.2 Trillion which a majority will be raised through taxation and distributed using grants provided by the local governments. Sources:Bruenig, Matt. “Family Fun Pack ❖ People’s Policy Project.” People’s Policy Project. Accessed June 4, 2022. https://www.peoplespolicyproject.org/projects/family-fun-pack/ (Links to an external site.) (Links to an external site.) (Links to an external site.)Cohen, Patricia. “Beyond Pandemic’s Upheaval, a Racial Wealth Gap Endures.” The New York Times, April 9, 2021, sec. Business. https://www.nytimes.com/2021/04/09/business/economy/racial-wealth-gap.html (Links to an external site.) (Links to an external site.) (Links to an external site.)Darity Jr., William. “The True Cost of Closing the Racial Wealth Gap.” The New York Times, April 30, 2021, sec. Business. https://www.nytimes.com/2021/04/30/business/racial-wealth-gap.html (Links to an external site.) (Links to an external site.) (Links to an external site.)Darity Jr., William. “Why Reparations Are Needed to Close the Racial Wealth Gap.” The New York Times, September 24, 2021, sec. Business. https://www.nytimes.com/2021/09/24/business/reparations-wealth-gap.html (Links to an external site.) (Links to an external site.) (Links to an external site.)Horowitz, Juliana, Anna Brown, and Kiana Cox. “Views on Race in America 2019.” Pew Research Center’s Social & Demographic Trends Project. Pew Research Center, April 9, 2019. https://www.pewresearch.org/social-trends/2019/04/09/race-in-america-2019/ (Links to an external site.) (Links to an external site.) (Links to an external site.)Rios, Edwin. “These Statistics about Race and Wealth in America Are Infuriating.” Mother Jones, August 11, 2016. https://www.motherjones.com/politics/2016/08/racial-wealth-gap-widening-inequality-report/ (Links to an external site.) (Links to an external site.) (Links to an external site.).Reich, Robert. “Robert Reich: We’re Living under the Cruelest Form of Capitalism in the World.” In These Times, November 9, 2021. https://inthesetimes.com/article/robert-reich-elon-musk-capitalism-inequality-wealth-tax (Links to an external site.) (Links to an external site.) 2. Education CommitteeSB5: Improving the Education of Low-Income Students Background:The educational gap between the rich and the poor school districts is highly evident. While high-income school districts have more facilities and resources to help the success of their students. Low-income school districts do not have equal access to such resources which potentially causes more dropouts that could lead students back to the cycle of poverty. By improving education and providing a better learning environment for low-income students, would allow them to gain equal opportunities with students studying in high-income schools. Here we propose:Provision:Low-income families should receive more funding through Federal Supplemental Education Opportunity Grants (FSEOG).The maximum amount of financial aid each student may receive should be raised to around $40,000 per year.The maximum amount of financial aid a family may receive should depend on household income and the number of people in the said household.Schools in lower-class areas should receive more government funding to ensure a better learning environment for students.More scholarships could be created so that students in all fields can be eligible to apply for scholarships, such as sports, reading, conduct, or social service.Cost:565 billion will be assigned to  support this bill320 billion for new school construction and improvements to existing facilities.150 billion would be used to expand the access to the internet and course design.50 billion will be “leveraged through bonds” to assist finance school building expenses.$45 billion for the Environmental Protection Agency.  Social Science Political Science POLS 202 Share QuestionEmailCopy link Comments (0)