The Assets Agenda
The purpose of this report is to outline a federal public policy agenda to broaden savings and asset ownership opportunities for lower-income Americans who have limited resources at their disposal. In developing our thinking on the subject, we have drawn on the research and expert analysis of many others in the field. The agenda we present here includes calls for new structures and policies at the federal level, as well as changes to existing tax systems, government programs, and financial products. Some of these policies are well developed, others need more seasoning, but all of them have the potential to contribute to the economic well-being of millions of American families.
This edition of New America's Assets Agenda is the most comprehensive to date, with 84 innovative asset-building ideas. Following the introduction, it is organized in 13 sections, each beginning with a brief synopsis of a problem, followed by specific policy proposals.
Click here to view this new report.
About Us
Getting ahead in today’s economy depends not just on one’s job and income, but increasingly on one’s ability to accumulate and utilize assets -- to buy a home, pay for higher education, start a business or save for retirement. Yet more than half of all Americans currently have few or no assets for investment. The Asset Building Program advances innovative policies -- such as a “Homestead Act” for the 21st century that would provide every American child financial assets from birth -- to significantly expand economic opportunity, thereby giving all Americans a personal stake in the overall success of our economy.
More information about the program is available here.
Answers to FAQs about assets and current asset statistics are available at www.assetbuilding.org
Articles
| Article | Date |
|---|---|
| How to Encourage Families to Save for College | September 25, 2008 |
| Tax Refunds Deposited onto Prepaid Cards Could Provide Financial Access to Unbanked | September 23, 2008 |
| Breaking Asset Poverty | September 16, 2008 |
| Paying City Students Is a Wise Investment | June 27, 2008 |
| Wheels Versus Welfare | June 19, 2008 |
| Making a Transaction and Savings Account a Certainty, Just Like Taxes | May 22, 2008 |
| Don't Spend Your Tax Rebate! | April 15, 2008 |
| A Convergence of Opportunities: Delivering Prepaid Accounts at Tax Time | February 21, 2008 |
| Viewpoint: Fed's Mortgage Move is a Good Start | December 21, 2007 |
| Technology is Helping Firms Reach Unbanked | November 16, 2007 |
Policy Papers
| Title | Date |
|---|---|
| Saver’s Bonus Act (S. 3372) | October 2008 |
| New Saver’s Act (S. 1967) | October 2008 |
| Saver's Bonus Act | September 2008 |
| Learning from the Past | September 2008 |
| Presidential Promises | September 2008 |
| The Assets Agenda | September 2008 |
| Child Savings Accounts: A Primer | August 2008 |
| Child Savings Accounts: Global Trends in Design and Practice | July 2008 |
| Global Savings, Assets and Financial Inclusion | July 2008 |
| Asset Building Program in California | July 2008 |
Events
| Event | Date |
|---|---|
| CA EVENT: Strengthening California’s Workforce through Education, Training, and Savings | October 20, 2008 |
| Regulating in the Real World | October 17, 2008 |
| CA Event: ScholarShare: Expanding Savings for Higher Education and Skills Training | September 30, 2008 |
| Global Savings, Assets and Financial Inclusion | July 30, 2008 |
| CA Event: Microenterprise Development | July 21, 2008 |
| CA Event: Expanding Savings and Retirement Security | May 21, 2008 |
| Confronting the Debt Culture | May 12, 2008 |
| CA Event: Financial Literacy - Need, Strategy, Opportunity | April 17, 2008 |
| CA Event: Banking the Unbanked | March 26, 2008 |
| Can Online Investing End Poverty? | March 19, 2008 |
Press
Staff
- Ray Boshara
Vice President and Director, Asset Building Program - Olivia Calderon
California Legislative Director - Reid Cramer
Research Director - Mark Huelsman
Program Associate - Justin King
Federal Policy Liaison - Melissa Koide
Deputy Director - Phillip Longman
Schwartz Senior Fellow - Alejandra Lopez-Fernandini
Policy Analyst - Karen Murrell
Senior Research Fellow - David Newville
Policy Analyst - Rourke O'Brien
Research Fellow - Mark Paul
Senior Scholar - Ellen Seidman
Director, Financial Services Policy - Leila Seradj
Program Associate, Global Assets Project - Fred Ssewamala
Senior Research Fellow, Global Assets Project
- Jamie Zimmerman
Deputy Director, Global Assets Project
Click on any name above for additional information.
Presentations
- Federal Policies to Encourage Savings and Accounts at Tax Time
- Melissa Koide; 9/13/2008; Washington, DC
- U.S. Savings Bonds: America's Best Kept Secret
- Melissa Koide; 9/12/2008; Washington, DC
- Asset Building and Low-Income Families
- Reid Cramer; 9/12/2008; Washington, DC
- Assets in the Workplace
- Ellen Seidman; 9/11/2008; Washington, DC
- Developing Sophisticated Financial Consumers
- Karen Murrell; 9/10/2008; Washington, DC
- Homeownership in a New Era
- Ellen Seidman; 6/4/08; Los Angeles, CA
- Savings and Asset Building: Global Lessons, Trends, Challenges and Opportunities
- Jamie Zimmerman; 8/27/2008; Hanoi, Vietnam
- Financial System Regulation: Testimony Before the Joint Economic Committee
- Ellen Seidman; 5/14/08; Washington, DC
- 529 College Savings Plans, Testimony Submitted for the Hearing on "Education Tax Incentives"
- Reid Cramer; 5/1/08; Washington, DC
- Financial Literacy: Need, Strategies, Opportunity
- Ellen Seidman; 4/17/08; California Assets Forum, Sacramento, CA
- Policy Approaches for Saving and Asset Building by Low-Income Americans
- Ray Boshara; 03/19/08; FDIC, Washington DC
- Optimal Capital Structure: The Role of Savings in MFIs
- Ellen Seidman; 2/21/08; Women's World Banking, Westchester, NY
- Next Generation CRA: A 21st Century Responsibility and Accountability Agenda for Consumer Financial Services
- Ellen Seidman; 10/24/07; Board of Governors of the Federal Reserve, Washington, DC
- Asset Building: Catholic Social Thought and a New Strategy for Helping the Poor
- Ray Boshara; 02/15/07; Catholic University, Washington DC
- Savings and Asset Development for the Poor in Developing Countries
- Ray Boshara; 01/23/07; The World Bank, Washington DC
- Children's Savings Accounts; Forum on Building Wealth for the Next Generation
- Ray Boshara; 10/11/06; Puerto Rico
- The U.S. Experience with Asset-Building Policies and Programs
- Ray Boshara; 06/19/06; HRSD Roundtable, Ottawa, Canada
- Asset Building: The Path to Financial Independence for Women
- Ray Boshara; 10/26/05; Women’s Policy, Inc. & Congressional Women’s Caucus, Washington DC
- The Perils and Promise of An “Ownership Society”
- Ray Boshara; 06/22/05; Federal Reserve Bank; Cleveland, OH
- The “Ownership Society” and Social Policy in the 2nd Bush Administration
- Ray Boshara; 01/14/05; Tokyo America Center, Tokyo, Japan
- OECD Forum on Mexico: Policies to Promote Growth and Economic Development
- Ray Boshara; 11/03/04; Mexico City, Mexico
- IDAs and Asset Building: Some Lessons and Observations on the Future
- Ray Boshara; 06/22/04; Building the Financial Futures of Working Families, Chicago, IL
Senator Menendez (D-NJ) Introduces Saver's Bonus Act
The Saver's Bonus Act was introduced on July 31st by Senator Robert Menendez. By providing a match at tax time for savings, the Saver's Bonus simplifies and eases eligible families' ability to save and build wealth through a number of short- middle- and long-term savings products. For more information about the Saver's Bonus, click here.
Asset Building and Low-Income Families
A new book from the Urban Institute Press, Asset Building and Low-Income Families provides a comprehensive assessment and critique of the knowledge base and policy potential of asset building for the poor. Edited by Signe-Mary McKernan and Michael Sherraden, the book draws together top experts to assess this growing body of research and suggest ways to translate academic findings into policy that works. Specifically, the book evaluates what is known regarding the measures, distributions, determinants and effects of asset holding; charts directions for future research; and sets the stage for future assets policies that may include low-income households. The Asset Building Program's Research Director, Reid Cramer, is a contributer to this book. Click here for more information.
