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Treasurer's office asks committee to create special fund and pilot language for baby bonds study
Summary
The treasurer's office asked the House Commerce and Economic Development Committee on May 7 to add language to S.122 establishing a special short-term fund and clearer pilot design for a baby bonds pilot funded by philanthropic donations.
The Vermont treasurer's office asked the House Commerce and Economic Development Committee May 7 to add statutory language to S.122 that would create a short-term special fund and clarify parameters for a baby bonds pilot the office is designing.
"Our proposal is that we invest $3,200 for every baby in Vermont born on Medicaid," Ashlyn Doyle, director of policy in the treasurer's office, told the committee. She said the office estimates the account balance could grow to about $20,000 by age 18 under expected rates of return for the long-term program. The office also estimates a permanent, statewide baby bonds program would cost about $6,000,000 per year to sustain.
Doyle said the language…
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