The Savings for Working Families Act (SWFA) ensures that our nation’s savings and ownership policies assist working-poor families by enabling them to save, build wealth, and enter the financial mainstream through the use of a financial product tailored to their needs: individual development accounts (IDAs). SWFA would make IDAs available to 900,000 low-income Americans. IDAs [...]
SECTION 1. This act shall be known and may be cited as the “Family Savings Initiative Act”. SECTION 2. The purpose of the Family Savings Initiative Act is to provide for the establishment of individual development accounts designed to: Provide individuals and families with limited means an opportunity to accumulate assets; Facilitate and mobilize savings; [...]