I did not see any of those details in the article. All I see is a bunch of money being given away without any indication of where the money would come from.
The baseline starts at $4 billion per year ($1,000 per child, ~4 million births per year). But it rapidly increases, because there would be a giveaway every year until each child turns 18, such that each child would have received between $1,700 and $44,000 by age eighteen (median $15,000). And the giveaways don't end at 18, apparently, because the article mentions how much they would have at age 30. So this "program" starts expensive and rapidly inflates from there, since each year, 4 million new kids start receiving giveaways.
In all this talk of how much each kid would receive, there is no talk of how this will be funded. Will Booker blather on about taxing "the rich" who, in DemocRAT eyes, is anyone with an income above poverty level? Will the government just print money? Or will the government add to the national debt at a rate that is already almost exponential? ALl ways lead to economic depression and inflation; the second way especially fuels inflation and the third way accelerates a complete economic collapse as the government can no longer guarantee its debts.
Nowhere does the article explain how this massive economy killing giveaway address the "growing wealth gap." I can help Booker here. Socialist policies cause the greatest " wealth gap" by concentrating all wealth in the hands of politicians and their cronies and discouraging production. Capitalist policies create a more normal distribution of wealth by encouraging everyone to be productive and contribute to the economy. Extreme poverty cannot be addressed by giving away ever more money; it has to be addressed through policies that encourage people to develop productive skills. Endless welfare discourages productivity by removing any incentive to do better.