Strategies

Policies and programs that work

7 Strategies
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Child development accounts

Establish dedicated child development accounts (CDAs) to build assets over time with contributions from family, friends, and sometimes, supporting organizations; also called children’s savings accounts (CSAs)
Expert Opinion
  • Income
  • Education

Child tax credit expansion

Expand federal or state child tax credits by increasing credit amounts, making credits refundable, decreasing or eliminating the earnings threshold, or creating a fully refundable supplement
Expert Opinion
  • Income

Financial education for adults

Provide one-on-one or group adult education programs that cover topics such as basic budgeting, bank use, credit management, bankruptcy, credit building and counseling, homeownership, retirement, divorce, etc.
Insufficient Evidence
  • Income

Microfinance & microenterprise

Support programs that provide small loans, usually to disadvantaged individuals, to start or expand a small business, often with business training and other assistance
Insufficient Evidence
  • Income

Payday loan regulations

Regulate small, short-term loans that must be repaid by a borrower’s next pay day via bans, caps on maximum interest rates and loan amounts, minimum loan terms, truth in lending statements, etc.
Insufficient Evidence
  • Income

Refundable child and dependent care tax credit

Offer a refundable tax credit to working families with qualifying children or other dependents that receive care outside the home (e.g., a spouse with disabilities)
Expert Opinion
  • Income

Supplemental Security Income (SSI) benefits

Explore ways to increase Supplemental Security Income (SSI) program benefit amounts for aged, blind, or disabled individuals, including children, with little or no income
Expert Opinion
  • Income