$12 billion trust fund is about to crack open for U.K. teens
Last week, New Jersey Gov. Phil Murphy, a Democrat, proposed granting children born in the state a $1,000 state-funded nest egg. Part of Murphy’s budget for the fiscal year starting Oct. 1, it would cost an estimated $80 million a year and apply to children born in families earning less than about $131,000 a year, the New York Times reported. Such a move also has been discussed at the federal level.