Financial Asset Building

The financial asset-building policy measures in the Report Card gauge state support for policies that lead directly to the accumulation of financial assets. This includes policies that help to increase pre- and post-tax income so that working families can save, policies to directly incentivize the accumulation of assets, and policies that reduce disincentives to saving. These policy measures are included in the Report Card because research12 shows there are a number of determinants in asset accumulation in low-income households. Among these are 1) limited income needed to meet current consumption needs and 2) discriminatory government policies, which either fail to incentivize or actually create barriers to saving on the part of low-income households.

IDA Policy
Income Tax Threshold
State Earned Income Tax Credit
State Minimum Wage
Asset Limits for Public Assistance