Center on Assets, Education, and Inclusion

This individual section of the report provides information on extra details about what it would take to implement the policy recommendations discussed in the previous section. It discusses topics like, why Children’s Savings Accounts (CSAs) and the importance of direct cash transfers. It also attempts to address issues that might serve as roadblocks to carrying out the policy agenda laid out in this report such as combining Baby Bond’s and CSAs. This section is best understood within the context of the full report.

We are providing the different sections of the report as individual sections for those who might not want to print the full report. Further, to shorten each individual section the references for each individual section can be found in the full report. 

This individual section of the Financial Independence postconfrence report provides a basic framework for suggesting that income and asset policies must be pursued together to truly solve poverty. It also provides a framework for understanding poverty as a financial capability problem. In doing so, it contends that poverty is not only about today but also the kinds of futures families, and their children can achieve. Produce financially capable people requires that policy provides access to financial institutions, economic resources in the form of income and assets, and financial literacy training.

We are providing the different sections of the report as individual sections for those who might not want to print the full report. Further, to shorten each individual section the references for each individual section can be found in the full report. 

This individual section of the report provides a set of policy recommendations with the goal of ending poverty and producing financial capable people.

We are providing the different sections of the report as individual sections for those who might not want to print the full report. Further, to shorten each individual section the references for each individual section can be found in the full report. 

This individual section of the report provides key points or takeaways from each full brief included as part of the conference along with a link to the full brief. The takeaways are organized by conference session (Children’s Savings Accounts and Baby Bonds, Income Approaches to Poverty, and Bringing Together Income and Asset Approaches to End Poverty).

We are providing the different sections of the report as individual sections for those who might not want to print the full report. Further, to shorten each individual section the references for each individual section can be found in the full report. 

The goal of the conference Using Wealth and Income Policies to Forge a New Social Contract: Giving People Something to Live For (short title: Financial Independence), held on September 16 and 17, 2024, in Washington, D.C., was to bring together experts from the asset and income fields to share theory, evidence, and best practices as part of an effort to begin a more earnest conversation about the development of a new social contract designed to end poverty. The conference was divided into four sessions. Sessions One and Two focused on Children’s Savings Accounts and Baby Bonds as promising asset-build- ing policy proposals for solving the wealth component of poverty. Session Three focused on Unconditional Cash Transfers, the Child Tax Credit, and Child Allowances as promising income policy proposals for solving the income component of poverty. Because poverty has both an income and asset component, Session Four discussed why a core component of a new social contract to end poverty must include combining these poli- cies and coalitions.

In this talk I want to make the point that CSAs have become much more than a financial vehicle for individuals to save in. This matters. First, it matters for understanding how to assess whether CSA programs are effective. Second, it matters for combating the myth that building wealth through CSAs continues to be primarily about personal saving. This myth has placed a roadblock between CSA and Baby Bonds movements being able to coalesce around a common financial infrastructure for building wealth for children and their families.