Asset building includes activities directly related to the nature and amount of assets an individual with a disability can accumulate in their quest for financial independence and stability. When people with low income accumulate assets rather than simply increasing their income, they are more likely to escape the cycle of poverty permanently.
The Governor’s Council on Disabilities and Special Education works with a variety of stakeholders including individuals with disabilities, financial institutions, corporations, government agencies and private industry to enhance the availability and use of asset building activities as part of the Medicaid Infrastructure Grant.
The specific areas being addressed include:
- Increase awareness of and use of the Earned Income Tax Credit by people with disabilities which enables low income tax filers to receive a cash payment regardless of whether they pay income taxes.
- Increase the use and types of Financial Literacy educational programs to provide individuals with skills and knowledge that enables them to best manage their finances and save money.
- Increasing the availability and use of Individual Development Accounts (IDA’s) and Assets for Independence (AFIA) Grants.
To find out more information on these activities, please select from the following links:
For more information on Asset Building, please visit the following links:
Creating a Roadmap Out of Poverty for Americans with Disabilities
The Assets Alliance
New American Foundation: Asset Building Program
World Institute on Disability Asset Building Website