WHAT TEXAS CAN DO
There are many policies that Texas could enact to improve its climate for asset building and preservation:
Curb Excessive Payday & Auto-Title Lending: To improve financial stability, reduce asset-stripping and enhance borrower success, Texas should enact “ability to repay on-time” legislation to limit fees, decrease rollovers and reduce auto repossessions.
Increase Household Savings: To increase financial access to mainstream financial products, promote financial success and reduce asset poverty, Texas should remove state asset limits, particularly for SNAP and TANF, and promote household savings through strategic investments in proven financial education, credit-building and college savings initiatives.
Expand Affordable Access to Public and Private Health Coverage: To address the highest uninsured rate in the country and to improve affordability and continuity of coverage, Texas should opt to cover more than one million uninsured US citizen adults in Medicaid beginning in 2014; continue to modernize and streamline Medicaid-CHIP enrollment and renewal procedures; and stop unreasonable rate increases and ensure that Texas’ health insurance exchange is user-friendly and family-centered.