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Treasurer’s office seeks pilot funding and design feedback for baby bonds program aimed at wealth creation for low-income youth
Summary
The treasurer’s office outlined a proposed baby-bonds pilot to provide seed capital for children born into poverty, reporting plans to target births covered by Medicaid, to invest funds until adulthood and to limit uses to home purchase, business starts, education or retirement.
Treasurer’s staff described a proposed baby-bonds pilot that would seed savings accounts for children born into poverty and track outcomes over several years. The office said the concept aims to reduce economic inequality, support rural retention, and help young Vermonters build wealth.
Program outline: Becky Washington described a model that would identify young people born on Medicaid as the qualifying population and provide a per-child seed allocation invested until adulthood. The office described typical allowable uses between ages 18 and 30 as buying a home in Vermont, starting a Vermont business, paying for postsecondary education, or rolling into retirement…
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