Chairman Alarcón and members of the Committee, I am pleased to submit testimony to the Los Angeles Committee on Jobs and Business Development on the topic of increasing the take up of the Earned Income Tax Credit in Los Angeles. I applaud Chairman’s Alarcon’s leadership in exploring effective ways to bring more of this important resource to Los Angeles—for the sake of Los Angeles working families and the local economy.
Research Associate, California Asset Building Program
Maria Sotero is
the Research Associate for the Asset Building Program in California. She works to support the program
and its work through research, writing, and event planning. She blogs about financial
empowerment strategies for low-income Californians and manages the program's
social media outreach, working to build and maintain a virtual warehouse of
asset policy… more
According to the New America Foundation, more than 300,000 Angelenos lack basic checking and savings accounts. "But
this is a reality in too many low-income communities throughout Los
Angeles and across the state, where banks and credit unions are
nonexistent," said Olivia Calderon, California legislative director of
the Asset Building Program at the foundation. ... Original Article
"A bank does not charge horrifying interest rates to
customers who need an emergency loan," said Olivia Calderón, Legislative
Director of the New America Foundation.
"In poor communities there is a great need and if they
continue to lack basic bank accounts it will be increasingly difficult for them
to get ahead," said Calderón. ... Original Article
The California Asset Building program hosted a policy roundtable discussion Wednesday October 14 in the State Capitol on updating the antiquated and misleading way we measure poverty. New York City Mayor Michael Bloomberg's Director of Poverty Research, Mark Levitan, led Assembly and Senate staff in the in-depth discussion (view his presentation here). Last year, New York City enacted an updated and improved poverty measure based on recommendations made by the National Academy of Sciences.
From climate change to redistricting, New York City Mayor Michael Bloomberg and Gov. Arnold Schwarzenegger have teamed up on a number of issues. It's time to add another to the list -- updating the antiquated and misleading way we measure poverty.
It may seem like an odd concern for the Republican duo. But Bloomberg took the lead on the issue last year when conditions in New York City were similar to those California faces today: The economy was down; need was… more
According to New America Foundation, 38% of all households are in a state of asset poverty, in that they lack liquid financial resources to support their ...
This afternoon the state legislature approved a budget to close the $24 billion deficit. The budget included cuts to health care, education, CalWORKS, prisons, and state worker pay.
New America Foundation experts released the following statements:
Steven Hill, Director, Political Reform Program:
Assemblywoman Lori Saldaña opened the Women and Wealth Asset Policy Forum event, sponsored by the New America Foundation's Asset Building Program in partnership with the California Women's Legislative Caucus, the California Commission on the Status of Women, and the California Women's Agenda.
