National Press Club

Asset Building for Every Child's Future: Putting Child Development Accounts on the Fed Legislative Agenda

Asset Building for Every Child's Future: Putting Child Development Accounts on the Fed Legislative Agenda

March 21, 2018 9:00 AM

Location: Conference Rooms

CANCELLED

Congressional Research Institute for Social Work and Policy

Asset Building for Every Child’s Future:
Putting Child Development Accounts on the Fed Legislative Agenda

WHEN: Wednesday, March 21, 2018  9:00 am – to 10:30 am

WHERE: National Press Club, 529 14th St NW, Washington, DC 20045

WHO: Center for Social Development, George Warren Brown School of Social Work, Washington University in St. Louis

WHAT: Professor Michael Sherraden will present the body of research and policy innovations on Child Development Accounts (CDAs) in several U.S. states and cities—along with policy examples in Singapore, Israel, and other countries—and make the case for federal legislation for universal and progressive CDAs.

Background: Economic inequality is leaving more children behind—at great long-term cost to the nation. The U.S. will need strategies that enable all children to be educated and reach their potential as engaged and productive adults. Dr. Sherraden offers solid research evidence that providing CDAs for children at birth contributes to asset accumulation for future education, as well as improvements in child development and parental outlook, and likely improvements in educational achievement going forward.

Several bills have been introduced in Congress supporting some form of CDAs, most recently by Rep. Joseph Crowley (D, NY) in the 114th Congress, whose proposed USAccounts would give each child $500 at birth. Crowley’s bill provides a match by the government for the next $500 a family chooses to deposit through a Child Tax Credit (CTC) expansion. Families could add as much as $2,000 per year in the child’s account in addition to the government’s contribution. In the same vein, Sen. Rick Santorum (R, PA) introduced a bill, S.868–America Saving for Personal Investment, Retirement, and Education Act of 2005—that would have created a fund for Kids Investment and Development Savings Accounts (KIDS Accounts) in the U.S. Treasury for every child under a specified income threshold. Overall, CDAs have enjoyed bipartisan interest and support, and thus the potential to move forward even in today’s partisan environment.

Asset Building for Every Child’s Future: Putting Child Development Accounts on the Federal Legislative Agenda. Dr. Michael Sherraden, professor at the Brown School of Social Work at Washington University in St. Louis and director of the Center for Social Development, outlines plans to advance federal legislation on child development accounts based on research from his work in Singapore, Israel and several states in the U.S.

Economic inequality is leaving more children behind—at great long-term cost to the nation. The U.S. will need strategies that enable all children to be educated and reach their potential as engaged and productive adults. Dr. Sherraden offers solid research evidence that providing CDAs for children at birth contributes to asset accumulation for future education, as well as improvements in child development and parental outlook, and likely improvements in educational achievement going forward.

Panelists include: Signe-Mary McKernan, vice president of the Center on Labor, Human Services, and Population and codirector of the Opportunity and Ownership initiative at the Urban Institute; Dr. William Elliott, III, associate professor at the University of Michigan School of Social Work; Linda English, senior director at TIAA Tuition Financing, Inc. Dr. Mary McKay, dean at the Brown School of Social Work, will moderate the panel.
Several bills have been introduced in Congress supporting some form of CDAs, most recently by Rep. Joseph Crowley (D, NY) in the 114th Congress, whose proposed USAccounts would give each child $500 at birth. Sen. Rick Santorum (R, PA) introduced a bill, S.868–America Saving for Personal Investment, Retirement, and Education Act of 2005—that would create a fund for Kids Investment and Development Savings Accounts (KIDS Accounts) in the U.S. Treasury.

Center for Social Development https://goo.gl/UuU1F0

Proposed USAccounts https://goo.gl/eKR1eb

Would create a fund https://goo.gl/z9iQ53

For More Information On This Event, Contact:

Charles Lewis
202-335-8387
celewisjr@gmail.com