WHAT OKLAHOMA CAN DO
There are many policies that Oklahoma could enact to improve its climate for asset building and preservation:
Increase Incomes and Assets: To reduce income poverty and increase net worth, Oklahoma should help its low-income population maximize their incomes and build assets by increasing the Earned Income Tax Credit and funding a state Individual Development Account program.
Improve Educational Outcomes: To improve its secondary and post-secondary educational outcomes, Oklahoma should increase funding to schools, especially in high-poverty districts, and match savings for college in 529 accounts.
Ensure Access to Safe Financial Products: To protect unbanked and underbanked households and improve credit scores, Oklahoma should ensure residents have access to fair and appropriate financial products by prohibiting or capping payday loans and short-term installment loans at 36% APR.