A couple of weeks ago the U.S. Department of Health and Human Services
(HHS) announced that Individual Development Accounts (IDAs) are
successful at encouraging savings, building assets and moving
low-income families into the financial mainstream. In fact, two
significant studies highlight the ability of matched savings accounts
to help low-income working families save, buy homes, pursue
post-secondary education, and start businesses. More info here.
The Savings for Working Families Act (SWFA) would represent a thirteen-fold increase in savings incentives for low-income people. If enacted, the bill would provide
Congress with an opportunity to address the country's negative savings
rate and growing wealth gap...
read more »
