In the wake of Hurricanes Katrina and Rita, the state of Louisiana has taken steps to make asset building a priority. The Louisiana Department of Social Services has embraced the concept of asset building, and is implementing programs that offer opportunities for asset building to low- and moderate-income residents.

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State of the Field; Opportunities for Growth
Written by Jennifer Brooks, CFED Policy Director

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For the past several years, consensus has been growing around the potential of state policy to improve the opportunities to build and protect wealth for low- and moderate-income families, and for state policy coalitions to be key players in making this policy change. In the 2008 legislative session alone, asset coalitions and their allies won state policy victories that resulted in hundreds of millions of dollars for asset building and the protection of hundreds of millions more in existing financial resources from asset stripping.  These victories were accomplished in a variety of ways: In some instances, advocates used their muscle to push for policy change under the umbrella of an explicit “asset coalition.” In others, assets advocates joined anti-poverty or consumer protection campaigns and brought the “asset voice” to those other efforts. In all cases, these efforts represent important victories for low- and moderate-income families and demonstrate the power collective advocacy.