Policy Brief
August 2008
ABC Meeting Update
In June, the Michigan Asset Building Coalition (ABC) reconvened, laying the foundation for advancing asset building policy in Michigan. The comments, ideas and recommendations offered during the meeting provide the basis of the ABC Policy Agenda and the work of Asset Building Policy Project (ABPP). Now, with the end of the year (and legislative session) fast approaching, it is important that ABC reconvene to better coordinate efforts that will advance asset building opportunities for Michigan families.
On Tuesday, October 28, 2008 , the ABC will reconvene for the last time in this year. More details will follow in the coming weeks, but in the meantime, please save that date.
If you have a suggestion, want more information or want to become involved with the ABC, contact Ross H. Yednock, Director, ABPP.
To access the June meeting materials and report, click here.
ABPP in Action
Legislative Lunch & Learns
This summer, the ABPP and CEDAM began hosting “Legislative Lunch & Learns” to educate key legislative staff on the issues and importance of asset building and community development. Organized in small groups, legislative aides and policy staff engage in an interactive presentation over lunch, ask questions and learn more about the working being done to strengthen the communities in their districts and provide asset building opportunities for their constituents.
To learn more about these lunches, or to arrange a similar presentation with leaders in your community, contact Ross H. Yednock.
Voices for Action: 2008 Poverty Summit
On November 13, 2008, the State of Michigan will host its first ever, statewide poverty summit in Detroit and the ABPP is involved. Working with summit organizers to promote asset building policy and practice as a positive strategy on the pathway out of poverty, the ABPP has drafted several recommendations that will empower Michigan families to become financially self-sufficient and economically secure.
To learn more about the Poverty Summit, click here.
ABPP Policy & Practice
ABPP Policy Update
In June, ABC members generated asset building policy and practice recommendations to will help building asset building capacity in Michigan create greater opportunities for working families. Some recommendations will be achieved through legislation or administrative rule changes while others will require a broader, long-term approach. All of them are consistent with the goals of the ABPP highlighted in Helping Working Families Achieve Financial Security.
To see the ABPP Policy Agenda, click here.
To read the Helping Families Achieve Financial Security, click here.
IRS VITA Matching Grant Deadline Is Here!
- Applications due September 2th -
The deadline to apply for the Internal Revenue Service’s first-ever Volunteer Income Tax Assistance (VITA) matching grant program is September 2, 2008. Under the grant program, the IRS will award matching grants to extend services to underserved populations and hard-to-reach areas, both urban and non-urban. When the grant first was announced, there was a limit on administrative expenses however as of August 14th, that limit was eliminated.
To qualify for the grants, applicants must be either qualified nonprofit, a state or local government agency, or a regional, statewide or local coalition with one lead organization that meets one of the eligibility criteria stated above.
To download an application packet, click here.
If you have questions about program or application process, click here or email to the IRS Grant Program Office.
Economic Stimulus Payments Remain Unclaimed
- Deadline to file is October 15th -
The Center on Budget and Policy Priorities recently reported that roughly 150,000 eligible households in Michigan have yet file their federal income tax return as necessary to claim their economic stimulus payments. In all, nearly $46 million remain unclaimed by households who would not have to file a tax return including disabled veterans, others with disabilities and low-income seniors.
Don’t delay. In order to receive the $300 stimulus payment ($600 for a married couple), a tax return must be filed by the October 15, 2008.
To find free help in filing a tax return call 2-1-1 or 1.800.552.1183 if 2-1-1 is not available in your area.
To access the Center on Budget and Policy Priorities report, click here.
U.S. Treasury Introduces New Electronic Deposit Option for Social Security Recipients
The U.S. Department of the Treasury's Financial Management Service has introduced a new optional alternative to paper checks for Social Security recipients in the Midwest. The Direct Express ® Debit MasterCard ® card – designed as a safe, convenient alternative to paper checks – is a new option for federal beneficiaries who do not have a bank account, but are looking for a no-cost or low-cost alternative to using check cashing facilities and carrying large amounts of cash.
There is no sign-up fee and no bank account or credit check is required to enroll. While most services are free, fees will be applied for non standard services like online bill payment and multiple ATM withdrawals.
For more information on the program, including what standard services are free and which services have fees, click here.
Additional information can also be found at the U.S. Department of the Treasury's Financial Management Service.
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