Anti-Poverty
An act relative to savings enabling prosperity (SD.142)
This bill reestablishes the matched-savings program in Massachusetts. Matched-savings programs are a critical tool to close the wealth gap that exists in Massachusetts, including a significant racial wealth gap, by helping low and moderate income individuals and families build assets and gain financial literacy skills. Participants may use matched funds to: help them purchase a home, fulfill an educational goal, develop and launch a small business, restore a home to habitable condition, pay tuition or related expenses at a college or university, purchase equipment to support employment, or create savings for retirement.
An Act Providing a Guaranteed Minimum Income to All Massachusetts Families (formerly An Act Improving the Earned Income Credit for Working Families) (SD.140)
This bill creates a guaranteed minimum income (GMI) to ensure that everyone in Massachusetts can attain a basic standard of living. Creating a GMI program in Massachusetts will be accomplished by enhancing the state’s Earned Income Tax Credit (EITC) so that it covers more households and delivers larger cash benefits. This bill ensures that every family earning up to $70,000 receives a minimum of $2,400 per year, and often much more.
An Act removing barriers to lifting people out of poverty (SD.143)
This anti-poverty bill reforms multiple social services programs to provide more effective and equitable assistance to people and families with low incomes throughout Massachusetts. Notably, this bill encourages families to develop modest savings by removing the asset limits for the Transitional Aid to Families with Dependent Children (TAFDC) and Emergency Aid to the Elderly, Disabled and Children (EAEDC) cash assistance programs.