Lead State Organization
The Midas Collaborative
Lead Local Organization
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WHAT MASSACHUSETTS CAN DO
There are many policies that Massachusetts could enact to improve its climate for asset building and preservation:
Encourage Savings and Asset Building: To help residents save and invest in productive assets, Massachusetts should remove the disincentive to save for families by lifting the $2,500 asset limit in the Temporary Assistance for Needy Families program and increase incentives for savings through a matched savings program, particularly one for high school students to make higher education more affordable.
Expand Financial Education: To improve credit scores, decrease bankruptcy rates and reduce high average credit card debt, Massachusetts should prepare people to navigate the financial marketplace by supporting financial education for adults and supporting the expansion of financial literacy in the K-12 school system.
Invest in Entrepreneurs: To increase business ownership by race and gender, Massachusetts should provide state support for non-profit, community-based providers that foster and expand micro-enterprises and women and minority-owned small businesses.