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What We Want - The CFED Policy Agenda
Savings for Working Families Act The Savings for Working Families Act (SWFA) ensures that our nation's savings and ownership policies assist working-poor families by enabling them to save, build wealth, and enter the financial mainstream through the use of a financial product tailored to their needs: individual development accounts (IDAs). SWFA would make IDAs available to as many as 2.7 million low-income Americans. IDAs are matched savings accounts that help low-income families build appreciating assets and become financially self-reliant. The accounts are used for three purposes:
Read a one-page description of the Savings for Working Families Act. Read legislation from the 111th Congress: S. 985; H.R. 2277 Write to your legislators and ask them to co-sponsor SWFA.
Support: SWFA has generated bi-partisan support in Congress with a record 127 cosponsors in the 110th Congress, including 50 Republicans. SWFA has passed the Senate twice and has also received considerable backing from financial institutions, corporations, and non-profit organizations around the country.
At a time when the nation's savings rate is near negative, this legislation will bring more Americans into the financial mainstream and allow broader access to opportunities for wealth accumulation. Read press clips about asset-building and SWFA: Bipartisan, Bicameral Savings Bill to Expand Economic Opportunity for Working Americans House GOP Backs Savings for Working Families Act in the "American Families Agenda"
"Subsidized Accounts Get Another Look in D.C." "CBS News spotlights IDAs and CFED" "Saving Incentives For All Income Levels" Timeline of federal IDA policy IDAs: Providing opportunities to build assets
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