Minn. Bill To Bring Investors Into Social Services


ST. PAUL, Minn. (AP) —
A plan to revamp state government by getting investors to fund social service programs is drawing bipartisan support at the Capitol.

The proposal from Republican Sen. Julie Rosen and Rep. Keith Downey would start a $15 million to $20 million investment pool using state bonds sold to investors.

The money would go to programs that could demonstrate a healthy return on investment, such as job training that put the unemployed back to work and boosted the taxes they paid. Programs would get paid only if they met their stated goals.

Backers say the plan would make the money follow programs that deliver on their promises, instead of paying for each person served.

They say the idea could be expanded to more of the state budget if a pilot project works.

(© Copyright 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

Comments

One Comment

  1. Dave Seavy says:

    Great – another avenue for investors to get rich off the backs of hard working Americans. Since the moneiy will go only to programs that will give healthy returns on investments, it will be the investors who decide what programs are offered. I guess it’s true – big business does run the government.

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