Giving new babies a savings account can help curb wealth gaps and make college feasible. One Democrat wants to make it federal law.

• Sen. Bob Casey wants to set up automatic savings accounts for every baby in the US.
• His "401Kids" proposal is similar to the concept of baby bonds and would be given out when kids are born.
• Kids in lower-income families would also receive federal deposits every year.

Sen. Bob Casey wants to chip away at wealth inequality and set up kids to be able to build wealth. His proposal: A "401Kids" savings account established for every kid in the country.