Giving babies $1,000 at birth is an 'unprecedented opportunity for financial security,' Ayanna Pressley and Cory Booker say

• Rep. Ayanna Pressley and Sen. Cory Booker urged the Treasury Department to support their "Baby Bonds" legislation.
• The bill would give babies $1,000 at birth, with additional contributions each year depending on family income.
• They argued it would advance racial equity and ensure financial security at birth.

Two Democratic lawmakers want to put every American on the right financial track — at birth.

On Wednesday, Massachusetts Rep. Ayanna Pressley and New Jersey Sen. Cory Booker sent a letter, first viewed by Insider, to the Treasury Department's chair and vice chair of its Advisory Committee on Racial Equity (TACRE), Michael Nutter and Felicia Wong, respectively — and they urged the two officials to support their "Baby Bonds" legislation.