This week's topics include retirement savings, Children's Savings Accounts, asset limits, and banking regulation & redlining.
Levin is not alone in his disapproval of the Maine governor's plan. Amy Fried, who teaches political science at the University of Maine, penned an opinion piece for local newspaper Bangor Daily News on Tuesday, detailing how the policy will hurt low income students hoping to save for college. Rachel Black, who is a senior policy analyst for New America, a Washington, D.C.-based think tank, told the Portland Press Herald last month that the legislation is "antithetical to the idea of promoting self-sufficiency."
Maine will subject food stamp recipients to new asset test, but critics say new rule creates disincentive to save money
“This discourages people from saving and having a cushion to fall back on,” said Rachel Black, a senior policy analyst for New America, a Washington D.C.-based think tank. “It’s antithetical to the idea of promoting self-sufficiency.”
Reid Cramer of the New America Foundation states in a recent article, “The state of wealth inequality in America is a choice, clearly reflected in a set of regressive tax policies that have shifted the burden away from accumulated capital. Without policy action, persistent inequality will undermine a more fair and equitable economy and threaten our democracy.”
Truly inclusive governance requires cross-sector collaboration, writes researcher Hollie Gilman, which has the added benefit of preventing “heightened criticism and an influx of demands” from draining government resources—particularly at the local level.
Improvements in Participants’ Knowledge, Attitude, and Behavior Over Time
Understanding that access and knowledge must go hand in hand when aiming to increase financial capability, YouthSave also designed and implemented financial education trainings, reaching over 44,000 of the most marginalized project-targeted youth. This blog highlights the findings from this work.
Findings from the Ghana YouthSave Experiment
The Ghana experiment’s findings demonstrate that early savings can enable young people to improve their long-term financial and educational outcomes, psychological well-being (e.g., self-efficacy, self-confidence), and future orientation.
The Asset Building News Week is a weekly Friday feature from New America's Asset Building Program. It is designed to help readers keep up with news and developments in the asset building field. This week's topics include Consumer Protection, Higher Ed Access, Housing Policy and Inequality, Education and Concentrated Poverty, and Tax Filing.
The Asset Building News Week is a weekly Friday feature from New America's Asset Building Program. It is designed to help readers keep up with news and developments in the asset building field. This week's topics include whether education protects wealth, erratic schedules and volatile incomes, and how inherited genes impact economic prospects.
The Asset Building News Week is a weekly Friday feature from New America's Asset Building Program. It is designed to help readers keep up with news and developments in the asset building field. This week's topics include Race and Concentrated Poverty, the proposed fiduciary rule, and the family squeeze.
Mary Alice McCarthy and Patricia Hart argue that President Obama’s Second Chance Pell Pilot program will do more than expand the educational horizons for ex-offenders. It will help former prisoners re-enter and revitalize the communities they return home to.
New Report Examines Promising New Approach to Boosting Educational Achievement and Economic Mobility
New America’s Asset Building Program and the Center for Assets, Education and Inclusion (AEDI) at the University of Kansas jointly released a package of reports exploring the potential of college savings and Children’s Savings Accounts (CSAs) to promote greater opportunity and economic mobility through increased college attendance and completion.
A Progressive Vision For Asset-Based Educational Achievement
When the education system operates so as to skew in the favor of those who approach it with assets, the impact of disparities in opportunities and capacity for education savings becomes a question of urgent policy importance.