Reducing Wealth Inequality and Protecting Consumers At Tax Time and Beyond
Tax credits and other safety net programs are vital for helping low-wage workers keep more of what they’ve earned at tax time and build wealth throughout the year. But that wealth can be nearly impossible to retain. Prosperity Now's research shows that some 44% of U.S. households are “liquid asset poor,” meaning they have less than three months of savings to live at the poverty level if they suffer an income loss.
How can federal policymakers, researchers and advocates support policies that not only help low-income Americans build wealth but also retain it? Prosperity Now and Tax Credits for Workers and their Families (TCWF) invited you to a February 2 Capitol Hill briefing to outline actions Congress can take to strengthen proven safety net and wealth protection strategies while ensuring consumer protection.
U.S. Senator Sherrod Brown (D-OH), longtime advocate of consumer protection and safety net programs such as the Earned Income Tax Credit, delivered keynote remarks. Representative Gwen Moore (D-WI), another strong champion for working families, \delivered a second keynote address. Each keynote was followed by a panel discussion featuring leading researchers, policy experts and advocates.
- Lisa Donner, Executive Director, Americans for Financial Reform
- Lauren Pescatore, Director, Tax Credits for Workers and their Families
- Andrea Levere, President of Prosperity Now
First Panel Discussion: “Building Wealth: Reducing Wealth Inequality” (10:00 - 10:50 am)
- Jeremie Greer, Vice President, Policy & Research, Prosperity Now
- Chye-Ching Huang, Senior Tax Policy Analyst, Center on Budget and Policy Priorities
- Rebecca Vallas, Managing Director, Poverty to Prosperity Program, Center for American Progress
- Marie van Luling, Chief Government Relations Officer, H&R Block
- Ida Rademacher, Executive Director, Aspen Institute Financial Security Program (Moderator)
Second Panel Discussion: “Protecting Wealth: Battling Financial Volatility With Financial Inclusion and Consumer Protection” (11:15 am - noon)
- Clinton Key, Research Officer, Financial Security and Mobility, The Pew Charitable Trusts
- David Newville, Director of Government Affairs, Prosperity Now
- Lauren Saunders, Associate Director, The National Consumer Law Center
- Aracely Panameño, Director of Latino Affairs, Center for Responsible Lending (Moderator)