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Committee hears overview of treasurer initiatives; treasurer scheduled to brief next week
Summary
The intern reported three treasurer initiatives — undue medical-debt forgiveness, Vermont Saves emergency-savings accounts, and a baby-bonds proposal — and the committee scheduled the treasurer's office to present details next week.
Helen Argraves, legislative intern for the House Commerce & Economic Development Committee, summarized treasurer-led initiatives the committee will follow and recommended the treasurer’s office appear before the committee.
Argraves said the treasurer’s initiatives include undue medical-debt forgiveness targeted at households at or below about 400 percent of the federal poverty threshold, an emergency-savings program called Vermont Saves intended to provide retirement-saving opportunities for people without employer plans, and a baby-bonds proposal that would seed $3,000 to $3,500 investments at birth for children from families below poverty. She said Chair Clarkson supports those initiatives and that the committee expects treasurer staff to provide a detailed briefing next week.
Committee members asked procedural questions about which of the three initiatives fall primarily under this committee’s jurisdiction; the chair answered that all three would likely involve this committee as well as other committees. Members deferred detailed questions until treasurer staff present more information.
