The Final Report of the Massachusetts Asset Development Commission was released at a Statehouse event preceded over by the Commission co-chairs, Senator James Eldridge and Undersecretary of Housing and Community Development, Tina Brooks.
Members of the Commission were joined by a large audience to hear Governor Deval Partrick and Senate President Therese Murray speak to the importance of asset building in creating opportunities for financial stability and economic mobility. Their remarks were punctuated by those of two women who spoke of their efforts to succeed financially and the barriers they encountered in advancing their education to get good employment and losing work supports before having sufficient earned income to support their families.
The Commission co-chairs highlighted the recommendations in the report emphasizing that the Commonwealth should promote policies that give everyone the chance to escape poverty and achieve financial stability. Reducing persistent, cyclical poverty and supporting low and moderate income families in achieving financial stability will ultimately help create thriving communities and grow our economy.
The speakers noted that assets are a key part of a familiy's financial safety net. Having a car to drive to work, the education and vocational training necessary to gain sustainable employment, and the ability to build modest savings are vital to breaking the cycle of poverty. Having assets like these allow people to take control of their lives and weather financial crises.
For more information, please contact Sandra Venner at venner@brandeis.edu or phone 781-736-8688.
© 2009, Institute on Assets and Social Policy, The Heller School for Social Policy and Management, Brandeis University. All rights are reserved.
