ASPIRE Act/KIDS Accounts

Guest Post: Six Tax Reforms to Increase Economic Security for All

April 17, 2014
Publication Image Editor's note: this blog post was authored by Heather McCulloch, Manager of the Tax Policy Project of the Asset Funders Network. It originally appeared on the ACCESS to Financial Security site and is reprinted here with the author's permission.

It’s tax time, the perfect time to consider how tax code reforms can create an America that lives up to its promise of opportunity for all.

New Report: It Still Takes Money to Make Money

March 12, 2014
Publication Image On Tuesday, our colleagues at the Assets and Education Initiative at the University of Kansas released a new report called Harnessing Assets to Build an Economic Mobility Agenda. The key finding? It takes money to make money.

Asset Building News Week, February 17-21

February 21, 2014
Publication Image  The Asset Building News Week is a weekly Friday feature on The Ladder, the Asset Building Program blog, designed to help readers keep up with news and developments in the asset building field. This week's topics include postal banking, housing, income inequality, and public assistance.

Asset Building News Week, February 10-14

February 14, 2014
Publication Image The Asset Building News Week is a weekly Friday feature on The Ladder, the Asset Building Program blog, designed to help readers keep up with news and developments in the asset building field. This week's topics include children's savings accounts, education, and financial services.

Senator Ron Wyden Wants Children's Savings Accounts

February 10, 2014
Senator Ron WydenI want a tax code in America where everybody has a chance to get ahead, especially those don’t have much of a chance," said Senator Ron Wyden (D-OR), the incoming Chair of the Senate Finance Committee at a conference last Friday. That's a lovely sentiment, but how do you get there? Fortunately, Senator Wyden used his speech to USC's Gould School of Law and the Brookings-Urban Tax Policy Center to outline his vision for tax reform, and there's a great deal to like.

Young Adults Experienced Financial Side Effects from the Great Recession

October 24, 2013
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Mounting debt, diminishing net worth, insufficient savings, increasing foreclosures, rising unemployment—all painful financial side effects of what has been dubbed the worst economic recession in almost a century. These side effects have been relatively well-documented. Rates of bankruptcy rose 74% and home foreclosures soared as much as 358% in some areas. Unemployment rates peaked at a national average of about 10%, with much higher rates documented for African Americans and Latinos. High rates of unemployment meant potentially fewer wages for day-to-day household needs. With only small amounts of savings or net worth to tide them over, millions of households turned to public assistance programs to sustain themselves. These effects are likely to follow households—and the children who grew up in these households during the Great Recession—for years to come.

Changing Federal Policy to Help Families Save

September 24, 2013

On September 20th, Rachel Black presented "Removing Barriers, Building Savings: Changing Federal Policy to Help Families Save" to the Inter-religious Working Group on Domestic Human Needs.

You can find a copy of the presentation here.

Guest Post: TrustEgg: Simple Saving for a Brighter Future

September 24, 2013
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Editor’s note: This post was authored by Jeffrey Brice and Eric Genrich of TrustEgg.  Jeff is the Founder/CEO of TrustEgg and a former accountant working in Banking and Trust. He is an expert in children’s savings plans, and created TrustEgg to help save for his nieces’ futures. Eric is TrustEgg's Policy Advisor, a husband, father, and Wisconsin state legislator.

Student Loan Deal Misses Bigger Threat to College Access

August 13, 2013
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Although President Obama and Congress have acted to preserve affordable student loan rates, they’re failing to address a much more serious threat that could impair college access. College enrollment could decline dramatically – no matter what the loan rate - as a result of the loss of household wealth during the recession.

Student Loan Debt May Put Young Adults in Financially Precarious Standing

May 13, 2013
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Student loan debt has been in the news a lot these days. In the last week, a number of news outlets wrote about mounting student loan debt and the delaying of life events by their borrowers (see ABC News, the Chronicle of Higher Education, CNN Money, the NY Times [here and here], and the Wall Street Journal, to name a few). The article in the NY Times provides a great example of this, "Consider Shane Gill, a 33-year-old high-school teacher in New York City. He does not have a car. He does not own a home. He is not married. And he is no anomaly: like hundreds of thousands of others in his generation, he has put off such major purchases or decisions in part because of his debts."

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