CFED's unique business model shows that we work within a "triangle" whose three sides encompass public policy, community practice and private markets. Public policy has always been a key to bringing new and effective approaches to scale for thousands and even millions of people. Policy innovations are powerful ways to change the status quo and are part of the focus of innovation@cfed.
As an example, we're using the Assets & Opportunity Scorecard and its policy recommendations to encourage states to adopt cutting-edge policies that help families build and protect assets. This year, Washington became the first state without an income tax to enact an Earned Income Tax Credit that provides a year-end payment to low-income families that earned income during the year. Two states--Arkansas and Texas -- took steps this year to encourage more kids to go to college by enacting policies that lay the groundwork for matching deposits into 529 education savings accounts.
We have many more policy innovations in the pipeline--like using a state self employment tax credit to encourage entrepreneurship and increasing both the supply of affordable housing and opportunities for lower-income households to build wealth by changing state laws that affect manufactured housing.
What are your ideas for innovations in public policy that can expand economic opportunity?
-- Jennifer Brooks, CFED's policy director and guest innovation@cfed blogger
I am starting to contribute regularly to these blog entries, and it has me thinking about why I am so compelled to contribute. I am far from a serial blog contributor generally. I have been receiving emails from CFED for a few years, but until this innovation@CFED was initiated, I have not really invested much time on your website trying to understand all that your organization does. I have understood some of the parts, like IDA's and SEED initiatives, but not deeply enough.
The data your organization is organizing... I am very enthusiastic about what I am finding. I just wanted to applaud briefly, and say that I am enjoying participating in this new effort to inspire innovation via CFED.
Thanks so much for the applause -- which CFED shares with our many partners and supporters. Indeed, one of CFED's enduring values, as described in our strategic plan, A New Birth of Economic Freedom http://www.cfed.org/imageManager/_documents/strategic_plan/strategic_plan.pdf
is "Collaboration, as a special organizational calling and competency to engage a diverse range of partners to connect community practice, public policy and private markets." Thank you so much for contributing so actively and thoughtfully to this process of learning about and doing innovation.