IDA Program

What's Happening with IDAs Nationwide?

Over 500 IDA initiatives exist in communities across the country. Overall, at least 10,000 people are currently saving in IDAs.

  • 30 states included IDAs in their state Temporary Assistance for Needy Families (TANF) plans (as allowed by the 1996 welfare reform law), which excludes counting IDAs as assets for the purpose of qualifying for benefits.
  • 34 states, Washington, D.C., and Puerto Rico have passed some form of IDA legislation. Only six states have no known IDA activity.
  • Several national foundations have supported the American Dream Demonstration (ADD), a 4-year, 14-site IDA policy demonstration.
  • IDAs are expected to reach an additional 30,000 to 40,000 working-poor Americans by the year 2003 though the federal Assets for Independence Act of 1998 (AFIA).
  • The Savings for Workings Family Act of 2002 (SWFA), introduced in both the U.S. Senate and U.S. House of Representatives, proposed billions in tax credits for financial institutions and private sector investors to match and support IDAs. Although SWFA did not pass in 2002, it may be reintroduced during the 2003 session.
  • The Office of Refugee Resettlement has also established an IDA program for organizations across the country assisting refugee populations.

For more information, please visit the Washington University Web Site at www.qwbweb.wustl.edu/csd/statepolicy