State treasurer announces Baby Bonds Advisory Committee

April 1, 2025  |  By Waterbury Roundabout 

State Treasurer Mike Pieciak has announced the formation of a Vermont Baby Bonds Advisory Committee that will convene local and national experts to develop a baby bonds pilot program in Vermont.  

In 2023, Pieciak and legislative leaders brought forward a proposal to implement the program which was proposed to invest $3,200 for every Vermont child born on Medicaid. When the child reaches adulthood, they would access the funds for wealth-building activities such as buying a home in Vermont, starting or investing in a local business, pursuing higher education or job training, or saving for retirement. 

The Legislature authorized Pieciak to develop a baby bonds pilot program first to evaluate the potential impact and operational needs of a fully funded program. The pilot effort will focus on young Vermonters born into poverty in the Northeast Kingdom, where communities face significant barriers to economic mobility. 

“Across the board, we’re seeing a concentration of wealth at the top, while opportunities for working people to get ahead are few and far between,” Pieciak said. “A Vermont baby bonds program will ensure every child born into poverty has a fair shot at success and hope for the future.”

Pieciak thanked those who have agreed to participate on the project’s advisory committee for offering their expertise to help establish what he called “a critical investment to address intergenerational poverty, rural economic development, and retention of young people in our state.” 

The advisory committee members are:

• David Radcliffe - State and Local Policy Director, New School’s Institute on Race, Power, and Political Economy 

• Kirstin Boehm - Senior Director, Outreach, Research & Development, VSAC 

• Stephanie Bonin - Senior Manager for Federal Campaigns, Center on Budget Policies and Priorities 

• Priscilla Gilbert - Certified Financial Planner, CenterPoint Financial 

• Amy Rose - Policy Director, Voices for Vermont’s Children 

• Katie Mobley - Dean of Enrollment and Community Relations, Community College of Vermont 

• Ted Castle - Founder, Rhino Foods 

• Liz Scharf - Director of Community Economic Development and Food Security, Capstone Community Action 

• Julie Lowell - Economic Security Policy and Outreach Director, Public Assets Institute 

• Emily Bush - Director, Vermont’s Women's Fund

Pieciak noted that there is growing interest in baby bond initiatives across the U.S. Connecticut, Washington, D.C., and California have passed and funded baby bond programs, and another 20 states including New Mexico, Georgia and Louisiana are considering legislation, he said. 

To support the Vermont pilot program, the treasurer’s office is seeking private funding from philanthropic sources. Those interested in supporting the program can learn more

here. 

The advisory committee had its first meeting on March 27. Its meetings are open to the public and available through the committee website.