Child Savings Accounts and Other Tax-Advantaged Accounts Benefiting American Children: Testimony Before the U.S. Senate Committee on Finance

This Perspective presents testimony given by Dr. William Elliott during “Child Savings Accounts and Other Tax-Advantaged Accounts Benefiting American Children,” a hearing before the U.S. Senate Committee on Finance, on May 21, 2024. Noting findings from children’s account research―including findings from the SEED for Oklahoma Kids experiment conducted by the Center for Social Development―Dr. Elliott discusses the 401Kids Savings Account Act and the American Opportunity Accounts Act, as well as proposals for Child Savings Accounts, Baby Bonds, Child Development Accounts. The Perspective concludes with several recommendations for federal policy.

The Center for Social Development is pleased to copublish this Perspective with the Center on Assets, Education, and Inclusion at the University of Michigan.

Project:  SEED for Oklahoma Kids (SEED OK)