Executive Secretary-Treasurer Susie Martinez Testifies in Support of AB28, Emphasizes Benefits for Working Families
February 21, 2023 CARSON CITY — Today, Nevada State AFL-CIO Executive Secretary-Treasurer Susie Martinez testified before the Assembly Committee on Government Affairs in Support of AB28, legislation filed by Treasurer Zach Conine that would establish a statewide Baby Bonds Program and alleviate financial hardship for Nevada’s working families.
“A Baby Bonds Program would be life-changing for future generations and bring Nevada’s workers relief as they work hard to provide for and raise their children,” said Executive Secretary-Treasurer Susie Martinez. “Every child should have the chance to improve their circumstances, and that is why the Nevada State AFL-CIO wholeheartedly supports this bill.”
If the legislation is enacted, the state will invest $3,200 in a bond for each baby born under Medicaid. The bond will be managed by the treasurer’s office until a child reaches the age of 18, at which point they can invest in opportunities to better their financial future.
You can read Executive Secretary-Treasurer Susie Martinez’s full testimony, as prepared, below:
Thank you, Chairwoman Torres & members of the committee, for the record, my name is Susie Martinez and I’m the Executive Secretary-Treasurer of the Nevada State AFL-CIO.
On behalf of over 150,000 members and 120 unions, the Nevada State AFL-CIO is in full support of Assembly Bill 28 - a piece of vital legislation that would establish the Nevada Baby Bonds Program.
It is no secret that the wealth gap in our state and across the country is growing at an alarming rate and that many of our working families are struggling.
When a family already needs to stretch the dollars, they earn to simply put food on the table and provide their children basic necessities, they don’t necessarily have the resources to think about the long-term future.
Around 44% of infants born in Nevada every year are on Medicaid—just imagine how many lives the proposed Baby Bonds Program could put on a better financial track.
We need this program so that the American Dream isn’t just a dream, but a reality for every single child.
That’s why it’s critical that our legislature overwhelmingly pass AB28 and ensure that we can break the cycle of generational poverty in Nevada.
I’d like to thank Treasurer Conine for bringing this bill forward and I urge the committee to support Assembly Bill 28. Thank you.