$1,000 ‘baby bonus’ totally inadequate
This is a quote from FOX Business news: “President Donald Trump on July 4 offers children an initial one-time $1,000 government investment at birth.” Parents can give up to $5,000 yearly to a child’s account until the child is 18. This is from the “Big Beautiful Bill.”
This sounds good. But I searched on several websites to determine the lowest average cost of having a baby (in a hospital). The amount in round numbers is $18,000 — and that is with insurance coverage. That figure does not include any type of extra care for problem pregnancies or a C-section.
Of course, $18,000 does not include what parents need after birth of baby, such as the basics like a crib, car seat, clothing and food. It is totally out of touch for our government to think $1,000 will be a true financial head start for parents of newborns. And how many parents can afford to put aside $5,000 a year into a child’s account?
Pat Ralston