2009 Assets & Opportunity Institute Agenda
| Pre-Conference Activities, Tuesday, September 22 | |
| 2-5 p.m. | Optional capitol hill visits |
| 6-8 p.m. | Institute Registration |
| Day 1 | WEDNESDAY, SEPTEMBER 23rd |
| 8-9 a.m. | registration & continental breakfast |
| 9-10:45 a.m. | opening plenary The 2009-2010 Assets & Opportunity Scorecard provides a state-by-state analysis of the financial security and economic opportunities of residents, as well as what state governments can or should do to help them build and protect assets. This opening session will highlight key findings from the newly released Scorecard, including trends in outcome data and policy adoption across five issue areas: Financial Assets & Income, Businesses & Jobs, Housing & Homeownership, Health Care and Education. The session will set the stage for two days of deep learning related to the 12 policy priorities highlighted in the Scorecard. Presentation: Opening Plenary: The 2009-2010 Assets & Opportunity Scorecard |
| 10:45 - 11:00 | break |
| 11 a.m.-1 p.m. | creating strong state asset policies: Each of the 12 policies outlined during the plenary session has the potential to leverage maximum benefits and build a strong basis for wealth and opportunity for each state’s residents. But how should these policies be designed? How can advocates build a bipartisan coalition in support of these policies? During the Institute, you will learn exactly what it takes to create and advocate for these policies. During each set of concurrent small group sessions, participants will choose one policy on which to focus. Each policy discussion will be led by two expert faculty who will share their deep content knowledge on the specific policy – the status of policy adoption nationwide, best practices in policy design and strategy, and advocacy and messaging. Sessions will provide participants the opportunity to ask experts about successful policy change efforts, share their own experiences and connect with others pursuing the specific policy. 1. Lifting Asset Limits in Public Benefit Programs Many public benefit programs – such as cash welfare or Medicaid – limit eligibility to those with few or no assets. If individuals or families have assets exceeding the state’s limit, they must "spend down" longer-term savings in order to receive what is often short-term public assistance. Yet personal savings and assets are precisely the kinds of resources that allow families to move off public benefit programs. States have discretion in setting or eliminating asset limits for a number of important programs. This session will address:
Resource Guide: Lifting Asset Limits in Public Benefit Programs 2. Predatory Mortgage Lending Protections Predatory or abusive mortgage lending refers to a range of practices – including deception, fraud or manipulation – that a mortgage broker or lender uses to make a loan with terms that are disadvantageous to the borrower. The collapse of the housing market in recent years was fueled by the widespread promotion of these high-cost, high-risk, often predatory loans that borrowers could not afford. In 2001, predatory mortgage lending in the subprime market was estimated to cost Americans $9.1 billion per year; in the wake of the current crisis, it is clear that the cost far exceeds even this estimate. Today, millions of Americans have lost their homes to foreclosure; 8.1 million more are expected to face foreclosure during the next four years; and still millions of others have been affected by the spillover effects of reduced property values, lost jobs and devastated communities. This session will address:
Resource Guide: Predatory Mortgage Lending Protections 3. Early Childhood Education Early education – including pre-kindergarten programs for 3- and 4-year-olds – leads to higher earnings, higher overall economic growth, a more productive and versatile workforce, better health and lower crime. Policies that promote early childhood development create a foundation for later school achievement, workforce productivity, responsible citizenship and successful parenting. Pre-K programs prepare children for learning, both in school and later in the workforce, and are vital to a state’s economic prosperity. States can fund high-quality early childhood education programs and ensure access to programs for all children, beginning with the most disadvantaged. States also can set guidelines for what constitutes a high-quality program, which can help consolidate fragmented school-readiness options and establish high-quality programming throughout the state. This session will address:
Resource Guide: Early Childhood Education |
| 1-2:45 p.m. | Lunch plenary: INNOVATION POLICIES The policy priorities and additional policies included the 2009-2010 Assets & Opportunity Scorecard have all been adopted in statehouses across the country, in one form or another. However, there are many other policy proposals that have the potential to expand economic opportunity for thousands or even millions of people that are neither on the books nor widely pursued. CFED now includes a new set of “innovation policies” that take new and creative approaches to addressing social issues. This session will highlight three of these policy innovations:
Presentation: Lunch Plenary: Innovation Policies |
| 3 p.m.-5 p.m. | creating strong state asset policies: 1. First-time Homebuyer Assistance Low- and moderate-income families face a number of barriers to achieving homeownership. Some can afford the monthly mortgage payment, but struggle to save enough money for the downpayment and closing costs. For others, the even tighter prime credit markets and enduring hazard of predatory subprime lending make it difficult to obtain an affordable, consumer-friendly mortgage product. Still others enter the homebuying process with little to no information about what to expect and how to protect their interests. State support for first-time homebuyers can help overcome these challenges. This session will address:
Resource Guide: First-time Homebuyer Assistance 2. State Individual Development Account Program Support One in seven Americans has zero or negative net worth. Twenty-three percent have so few assets that they could not stay above the poverty level for three months if their income were interrupted. There are, however, policies that help low- and moderate-income people build assets. State support for Individual Development Accounts (IDAs) is one example. IDAs are special savings accounts that match the deposits of low- and moderate-income savers, provided that they participate in financial education and use the savings for targeted purposes – most commonly postsecondary education, homeownership or capitalizing a small business. IDAs are important tools that make families more financially secure and communities more stable. This session will address:
Resource Guide: State Individual Development Account Program Support 3. Access to Quality K-12 Education Equal access to high-quality educational opportunities is a cornerstone of the public education system in the United States. Despite decades of education reforms, inequity persists in education spending and in the availability of high-quality teachers, particularly in areas with high concentrations of poverty. States have the flexibility, and the challenge, to develop their own standards and processes for funding education in their state and to set requirements to help improve the quality of the teaching force across the state. This session will address:
Resource Guide: Access to Quality K-12 Education |
| 5-7 p.m. | Networking Reception Room: Salon D&E, Lower Level |
Day 2 |
THURSDAY, SEPTEMBER 24th |
| 7:30-8:30 a.m. | continental breakfast Lower Level Foyer |
| 8:30-9:45 a.m. | morning plenary: race, assets & the economy The 2009-2010 Scorecard data reveal deep disparities and economic disadvantages when minority households are compared with white households. Compared with white households, minority households are more than twice as likely to be asset poor, three times as likely to have a high-cost mortgage loan and four times as likely to be unbanked. While 71.5% of white Americans own their homes, only 48% of minorities are homeowners. Roughly one in three white Americans has a four-year college degree, compared to only one in five minorities. This financial disparity between minority and white households has persisted over the years, raising serious questions about the basic fairness of an economic system that continues to produce such outcomes. This session will highlight the current racial wealth gap and engage participants in a discussion of the policies that advocates can push for to close the gap. Presentation: Morning Plenary: Race, Assets and the Economy |
| 9:45-10:00 a.m. | break |
| 10 a.m.-Noon | creating strong state asset policies: 1. College Savings Incentives Post-secondary education is one of the best investments an individual can make in his or her economic future. A college degree means higher earning potential and can be a stepping-stone to building wealth and achieving economic security. However, escalating costs discourage many from pursuing post-secondary education. One way to make the cost of post-secondary education more affordable and increase participation by lower-income individuals is to create incentives for individuals and families to save for college. One way to incentivize savings is to match an individual’s deposits into a 529 college savings account or provide a tax credit that reimburses accountholders for the deposits they have made. This session will address:
Resource Guide: College Savings Incentives 2. State Microenterprise Support There are more than 20 million microenterprises in the United States, representing 17% of all private employment. Microenterprise is a proving ground for new entrepreneurs and a key income generator and economic revitalization strategy in communities with weak job prospects. In addition, microenterprise helps people move out of poverty and off public assistance and helps poor households build wealth. Yet these smallest of businesses often find it difficult to find the capital, training and technical assistance they need to start and grow successfully. This session will address:
Resource Guide: State Microenterprise Support Handouts: Microenterprise Development: Part of the Solution for Washington 3. Access to Health Insurance More than half of personal bankruptcies in this country are partly the result of medical debt. Rising health care costs and gaps in insurance coverage mean that many families are one serious illness or accident away from financial insecurity. While roughly one in six nonelderly Americans – nearly 45 million people – lack health insurance, one in three low-income nonelderly Americans are uninsured. States can enact a range of policies to reduce the number of uninsured individuals. They can expand eligibility for public programs, subsidize the costs of private insurance and mandate coverage extensions for those whose benefits would otherwise be terminated. This session will address:
Resource Guide: Access to Health Insurance
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| Noon-1:15 p.m. | lunch plenary: connecting state asset policy to the Federal, state and local policy are linked; each level of government has interrelated powers, limitations and opportunities to expand economic opportunity for low- and moderate-income families. Within federal parameters, states have a range of options for action: they can build on positive federal policy, e.g., through a state Earned Income Tax Credit (EITC); exercise discretion where they have it, e.g., by eliminating asset limits in some public benefits programs; and innovate where no federal policy exists, e.g., by matching the deposits of those who save in a 529 college savings account. Similarly, local policy is contextualized by both state and federal policy. Municipalities have the opportunity to: build on both state and federal policy, e.g., through a local EITC; exercise discretion, e.g., by deciding on allocations of federal or state funding; and innovate where the state or federal government has yet to step up, e.g., using zoning powers to limit payday lenders. This session will focus on the relationships between the levels of government, as well as the opportunities and challenges to ensuring governments work together in support of financial security and opportunity for families. |
| 1:30-3:30 p.m. | creating strong state asset policies: 1. Payday Lending Protections Predatory payday lending refers to the practice of repeatedly making small, short-term loans at annual interest rates that average about 400%, which trap borrowers in a cycle of debt. These loans are referred to as “payday loans” because they are marketed to cash-strapped borrowers as a way to cover expenses until their next paycheck. Because the entire loan is due on their next payday, most borrowers find they cannot afford to pay off the loan and are forced to “roll over” the loan, incurring more interest and fees. A typical borrower pays back $793 for a $325 loan. Predatory payday lending drains low-income communities, especially communities of color, of millions of dollars each year. This session will address:
Resource Guide: Payday Lending Protections 2. Housing Trust Fund For both homeowners and renters, affordability is all too often out of reach. More than 45% of homeowners and 37% of renters spend more than one-third of their income on housing costs. High costs and elevated credit requirements in recent years have made it more difficult for those with modest incomes to afford a home. Many of those who are not ready or able to buy a home are forced to accept substandard or unsafe rental housing in order to find a residence that they can afford. Housing trust funds are one way that states can help make housing and homeownership affordable for low- and moderate-income individuals and families. For more than 20 years, housing trust funds have used dedicated public monies for a variety of affordable housing solutions, including preserving affordable rental housing, addressing homelessness, construction and rehabilitation of affordable housing, helping families become first-time homeowners, emergency repair and foreclosure prevention. This session will address:
Resource Guide: Housing Trust Fund 3. State Earned Income Tax Credit One of the largest and most effective wage support programs for low- and moderate-income families is the federal Earned Income Tax Credit (EITC). It lifts more than 5.1 million Americans – including 2.6 million children – out of poverty each year. Studies have shown that some families use EITC payments toward significant purchases – such as a house – and to pay off debts. Families can also use the credit they receive each year to start saving for the future. States can enact their own EITCs that build on the federal credit. This session will address:
Resource Guide: State Earned Income Tax Credit |
| 3:45-4:45 p.m. | afternoon plenary: making the case for Government investment in assets & opportunity policies Expanding economic opportunity for American families will require not only new and creative policies but also the public will to implement them. Unfortunately, dominant perceptions about how the economy works and the proper role of government in addressing economic challenges are stumbling blocks to creating the necessary public support for change. Inaccurate assumptions about who pays for and who benefits from social policies (i.e., that “the poor” don’t pay for, but do reap the benefits of government largesse) further decrease potential support for a governmental role. In addition, some of the messages that have been used to advocate for asset-building policies tend to reinforce a story of independence – “pulling yourself up by your bootstraps.” Making the case for governmental support of asset-building policies requires a sense of their collective benefit and the interdependence inherent in broadly shared economic well-being. Presentation: Afternoon Plenary and Closing |
| 4:45-5 p.m. | closing remarks |