Sacramento--The New America Foundation's California Asset Building Program has released its 2011 Bipartisan Legislative Agenda. The Agenda lays out both innovative and tested policies to help Californians exit poverty and gain control over their financial future.
"With shrinking state and local budgets and growing demand for social services, now is the time to help families help themselves become financially secure," said Olivia Calderon, California Legislative Director of the New America Foundation. "Our Bipartisan Legislative Agenda for 2011 advances much-needed low-cost reforms that lay out practical tools for hardworking families. We look forward to working with the legislature on these important issues, and we invite our partners to join with us in support of these measures this year."
The need for policies that promote wealth building is clear: thirty percent of Californians lack enough savings to get by for three months in the event of a job loss or medical emergency. Asset poverty is twice as pervasive as the income poverty rate and arguably more consequential. Recognizing this growing need, the Legislative Agenda puts forth the following bills:
The New America Foundation's Asset Building Program has championed state-level policy to create children savings accounts, help Californians save their tax refunds and build savings for college and retirement, provide K-12 financial education, remove barriers to saving for welfare recipients, help families avoid foreclosures and predatory payday loans.
The full Legislative Agenda is available here.
For media inquiries, please contact Elizabeth Wu at email@example.com or (510) 295-9859.
About the New America Foundation
The New America Foundation is a nonprofit, nonpartisan public policy institute that invests in new thinkers and new ideas to address the next generation of challenges facing the United States. Learn more at www.newamerica.net.