Prosperity Now text with a family at a park

From the Editor

Dear friends and partners,

During February, we are proud to celebrate the contributions and experiences of Black Americans. As we salute these influential men and women, we also must take time to explore our country's history with race while acknowledging the long-standing economic inequities that affect Black Americans nationwide.

We believe that the best way to eliminate these inequities, and to ensure prosperity for all, is to address the laws and practices that create and maintain disparities. To this end, this month’s newsletter is filled with policy recommendations that are set to address specific barriers that Black Americans have faced over multiple generations while simultaneously creating economic freedom within the country’s most vulnerable communities. We’ve also included a guide on terms and best practices for talking about race, as well as a piece that details what you need to know about New York City’s children’s savings account initiative.

The Prosperity Now community has a tremendous responsibility—and a significant amount of power—to change the social and political narratives in our communities. We thank you for your continued dedication to this cause.

Sincerely,

Kristin Lawton
Senior Director of Communications

Featured Resource

2020 Scorecard Instructional Video

Capitalism for an Inclusive Economy

In 2019, a staggering 40% of Americans were liquid asset poor—a number that approaches Depression-era levels. Over the past 40 years, policy changes and capital manipulations have heavily favored the billionaire class with catastrophic effects on the rest of us. Here, we dive into how capitalism can be used to benefit everyone, not just the wealthy few. Read more

President Trump’s Budget Prioritizes the Wealthy—Here’s Who It Should Prioritize Instead

President Trump’s budget for fiscal year 2021 proposes serious changes to some of the most important programs for low-income people including SNAP, Medicaid, education and student loan assistance, and affordable housing. Here, we provide examples of where the president’s latest budget gets it wrong and offer alternative solutions that strengthen communities rather than hinder them. Read more

Congress Introduces Bill to Remove Major Barriers to Saving

Although saving money is an integral aspect of financial stability, many of the programs that are meant to help people solidify their finances work against this notion by enforcing asset limits, also known as savings penalties, that require them to spend down their savings to qualify for or continue to receive assistance. The Allowing Steady Savings by Eliminating Tests (ASSET) Act that was introduced this week would remove savings penalties on TANF, SNAP and LIHEAP programs and enable low-income Americans’ to save for their futures. Read more

6 Things You Should Know About NYC Kids RISE

The NYC Kids RISE Save for College program offers universal college savings accounts for all students from kindergarten to second grade, regardless of immigration status or income. As the program enters its third year, it has enrolled 95 percent of kindergarteners, first-graders and second-graders—a total of 10,000 students to date. Here’s what you need to know about this pivotal program. Read more

We Have a New Resource! The Communicating on Race and Racial Economic Equity Guide

The Racial Wealth Divide Initiative (RWDI) is excited to announce the release of the Communicating on Race and Racial Economic Equity guide! Our community will find this guide helpful for naming, framing, defining and understanding the complex issues of race and ethnicity and how they shape racial economic equity. Read more

Mark Your Calendar

Policy Proposals for Achieving Prosperity: Where Do We Go in 2020? - Promise Accounts | February 18 | 1:00 p.m. - 2:00 p.m. | Register

Evaluating Tax Time Savings Interventions and Behaviors | February 20 | 2:00 p.m. - 3:30 p.m. | Register

Policy Proposals for Achieving Prosperity: Where Do We Go in 2020? - Baby Bonds | February 25 | 1:00 p.m. - 2:00 p.m. | Register

Understanding the Impact of Debt on Communities of Color | February 26 | 2:00 p.m. - 3:00 p.m. | Register

Promoting Mental Health through Financial Well-Being| February 27 | 2:00 p.m. - 3:30 p.m. | Register

The 2020 Prosperity Summit | September 30 - October 2, 2020 | Save the Date

News Flash: People Do Save Some of Their Tax Refund, but They Could Be Saving More

The 2020 Scorecard Shares a Vision Ahead for Financial Health in Communities Across the U.S.

Celebrating EITC Awareness Day in Cherokee Nation

Empowering Communities of Color in the South to Eliminate Debt Disparities