States continue to play an important role in helping low- and moderate-resource families save and build wealth. They have been innovators in assets policy, whether on their own or through the forces of “devolution,” in which federal funds and decision-making authority are shifting from the federal to the state level. These initiatives and experiments— these “laboratories of democracy”—have inspired and informed other states as well as policymakers at the national level.
Parrish, L., McCulloch, H., Edwards, K., & Gunn, G. (2006). State policy options for building assets (CSD Report No. 06-31). St. Louis, MO: Washington University, Center for Social Development.