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Treasurer’s office outlines baby bonds pilot plan, seeks private fundraising and evaluation partners
Summary
The Vermont State Treasurer’s Office said May 13 it will pursue a privately funded pilot of the baby bonds program authorized by the legislature last session, targeting the Northeast Kingdom and accelerated cohorts to produce earlier evaluation data; the statewide program was not funded in the last session.
Becky Wasserman, director of economic empowerment at the Vermont State Treasurer’s Office, told the House Committee on Commerce & Economic Development on May 13 that the office is developing a privately funded pilot for the baby bonds program authorized by the legislature last session and is pursuing fundraising, advisory input and evaluation partners.
Wasserman said the statutory baby bonds proposal previously presented by the Treasurer’s Office would have provided a $3,200 seed investment for babies born on Medicaid, to grow until individuals can access funds for education, starting a business, buying property or retirement between ages 18 and 30. ‘‘We did not get funding for the program, but the legislature did authorize us to do a pilot,’’ she…
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