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Select Board hears divided testimony on proposed Social Wealth Fund study committee
Summary
A town-meeting petitioner proposed a study committee to explore creating a locally managed Social Wealth Fund to invest municipal revenues for long-term social spending; the hearing drew support for investigation but strong cautions from board members about investment risk, feasibility, and municipal role in market investing.
Town-meeting member Anthony Buono introduced warrant article 18 seeking a Select Board-authorized study committee to evaluate creating a Social Wealth Fund that would invest a small recurring portion of municipal revenue in market assets and—if feasible—use earnings to fund social programs. Buono framed the idea as a long-term savings vehicle and cited examples such as national and state…
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