Interview with First Selectman Michael Freda | December 16, 2024
Baby Bonds are an increasingly popular bipartisan government policy in which every child born into poverty receives a publicly funded trust account at birth, providing them with “start-up capital” to pursue fulfilling, productive, prosperous, and self-directed lives. Follow our Baby Blogs series to learn about the vision, politics, and people behind Baby Bonds and their transformative impact on the lives of young people, their families, communities, and our economy.
In April 2023, a bipartisan group of Connecticut municipal leaders co-signed an op-ed in CT Insider supporting Baby Bonds. The 25 signatories wrote:
“Poverty reaches into every Connecticut community—all 169 of its cities and towns. It forces people into impossible choices, with urgent everyday needs taking priority over long-term saving. It creates a cycle that travels from parent to child, cutting off paths to economic advancement for multiple generations. As leaders of many of those Connecticut municipalities, we have an obligation to help break that cycle. Every child in our state deserves to grow up to find a world of opportunity and a fair chance at success. Helping to lift people out of poverty is our moral obligation as elected officials, but also an important strategy to empower our local economies.”
One endorser of this op-ed and of Baby Bonds is Michael Freda, the First Selectman and CEO of North Haven, Connecticut. We recently spoke with Mr. Freda about why he views Baby Bonds as an essential investment in people as part of a larger economic development strategy.
How and why did you engage with Baby Bonds?
Connecticut State Treasurer Erick Russell and I have worked very closely together. I pride myself on working across the aisle and building common ground and positive outcomes. While we are in different political parties, with a good foundation, we can soften ideological differences at the local, state, and federal level. The Treasurer’s Office reached out to me and asked if I’d consider signing on to an op-ed in support of Baby Bonds.
I did my research. I know a lot of people on HUSKY [Connecticut’s Medicaid program] in North Haven. This is an established group of people in need. We’re in business to help people in need, and I’m elected to serve all of the people in North Haven. So I signed on with Democratic mayors and some Republicans.
There are several reasons that Baby Bonds are a smart investment strategy. One, they are not giveaways—these funds are incentives for those who need it the most. Two, we have the funds to do it—no borrowing. Three, I like the focus of Baby Bonds for wealth-building purposes.
I also have a lot of confidence in Treasurer Russell.
Over the past year, as part of my service on the CT 119 Commission, I spoke with dozens of Connecticut young people who have no hope. Many kids we talked with struggle with finding employment. The system is very complex. Getting them employed and combined with an investment strategy like Baby Bonds is an important start.
I’m so glad I supported Baby Bonds—this could be a help with our many disconnected kids, many of whom would otherwise have no hope.
First Selectman Michael Freda is the Chief Elected Official of North Haven, Connecticut. First elected in 2009, he is currently serving his 8th term. Freda oversees all of the town’s departments, including the town’s finances, and is directly involved with every economic development project in town.
Freda is the past President of the Connecticut Conference of Municipalities, two-time Chairman of the Regional Council of Governments, and presently Chairman of The Greater New Haven Workforce Alliance and Chairman of the Comprehensive Economic Development Strategy of the Greater New Haven Region. He is also on the executive Board of Connecticut Conference of Municipalities (CCM) and the Vice President of the Council of Small Towns (COST).
If you missed previous installments of our Baby Blogs series, read them here.
Learn more about Baby Bonds in Connecticut.
To share feedback on this blog, or for questions about Baby Bonds, email David Radcliffe at [email protected].
To learn more, explore our Baby Bonds resources.