Author: Patrick Bolton
Publisher: Russell Sage Foundation
ISBN: 1610440757
Category : Social Science
Languages : en
Pages : 315
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Book Description
Access to credit is an important means of providing people with the opportunity to make a better life for themselves. Loans are essential for most people who want to purchase a home, start a business, pay for college, or weather a spell of unemployment. Yet many people in poor and minority communities—regardless of their creditworthiness—find credit hard to come by, making the climb out of poverty extremely difficult. How dire are the lending markets in these communities and what can be done to improve access to credit for disadvantaged groups? In Credit Markets for the Poor, editors Patrick Bolton and Howard Rosenthal and an expert team of economists, political scientists, and legal and business scholars tackle these questions with shrewd analysis and a wealth of empirical data. Credit Markets for the Poor opens by examining what credit options are available to poor households. Economist John Caskey profiles how weak credit options force many working families into a disastrous cycle of short-term, high interest loans in order to sustain themselves between paychecks. Löic Sadoulet explores the reasons that community lending organizations, which have been so successful in developing countries, have failed in more advanced economies. He argues the obstacles that have inhibited community lending groups in industrialized countries—such as a lack of institutional credibility and the high cost of establishing lending networks—can be overcome if banks facilitate the community lending process and establish a system of repayment insurance. Credit Markets for the Poor also examines how legal institutions affect the ability of the poor to borrow. Daniela Fabbri and Mario Padula argue that well-meaning provisions making it more difficult for lenders to collect on defaulted loans are actually doing a disservice to the poor in credit markets. They find that in areas with lax legal enforcement of debt agreements, credit markets for the poor are underdeveloped because lenders are unwilling to take risks on issuing credit or will do so only at exorbitant interest rates. Timothy Bates looks at programs that facilitate small-business development and finds that they have done little to reduce poverty. He argues that subsidized business creation programs may lure inexperienced households into entrepreneurship in areas where little profitable investment is possible, hence setting them up for failure. With clarity and insightful analysis, Credit Markets for the Poor demonstrates how weak credit markets are impeding the social and economic mobility of the needy. By detailing the many disadvantages that impoverished people face when seeking to borrow, this important new volume highlights a significant national problem and offers solutions for the future.
Author: United States. Congress. Senate. Committee on Banking and Currency. Subcommittee on Financial Institutions
Publisher:
ISBN:
Category : Consumer credit
Languages : en
Pages : 240
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Book Description
Author: United States. Internal Revenue Service
Publisher:
ISBN:
Category : Income averaging
Languages : en
Pages : 8
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Book Description
Author: United States. Congress. Senate. Committee on Banking and Currency
Publisher:
ISBN:
Category :
Languages : en
Pages : 226
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Book Description
Author:
Publisher:
ISBN: 9781731929877
Category : Public housing
Languages : en
Pages : 0
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Book Description
"'Low-Income Housing Tax Credit Handbook' provides definitive guidance through the complex body of laws, regulations, and judicial decisions concerning the low-income housing credit (LIHC)"--
Author: Nicolas Paul Retsinas
Publisher: Brookings Institution Press
ISBN: 9780815706137
Category : Business & Economics
Languages : en
Pages : 520
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Book Description
This volume gathers the observations of housing experts on low-income homeownership and its effects on households and communities.
Author: Scott W. Allard
Publisher: Russell Sage Foundation
ISBN: 1610448650
Category : Social Science
Languages : en
Pages : 323
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Book Description
Americans think of suburbs as prosperous areas that are relatively free from poverty and unemployment. Yet, today more poor people live in the suburbs than in cities themselves. In Places in Need, social policy expert Scott W. Allard tracks how the number of poor people living in suburbs has more than doubled over the last 25 years, with little attention from either academics or policymakers. Rising suburban poverty has not coincided with a decrease in urban poverty, meaning that solutions for reducing poverty must work in both cities and suburbs. Allard notes that because the suburban social safety net is less-developed than the urban safety net, a better understanding of suburban communities is critical for understanding and alleviating poverty in metropolitan areas. Using census data, administrative data from safety net programs, and interviews with nonprofit leaders in the Chicago, Los Angeles, and Washington, D.C. metropolitan areas, Allard shows that poor suburban households resemble their urban counterparts in terms of labor force participation, family structure, and educational attainment. In the last few decades, suburbs have seen increases in single-parent households, decreases in the number of college graduates, and higher unemployment rates. As a result, suburban demand for safety net assistance has increased. Concerning is evidence suburban social service providers—which serve clients spread out over large geographical areas, and often lack the political and philanthropic support that urban nonprofit organizations can command—do not have sufficient resources to meet the demand. To strengthen local safety nets, Allard argues for expanding funding and eligibility to federal programs such as SNAP and the Earned Income Tax Credit, which have proven effective in urban and suburban communities alike. He also proposes to increase the capabilities of community-based service providers through a mix of new funding and capacity-building efforts. Places in Need demonstrates why researchers, policymakers, and nonprofit leaders should focus more on the shared fate of poor urban and suburban communities. This account of suburban vulnerability amidst persistent urban poverty provides a valuable foundation for developing more effective antipoverty strategies.
Author: National Bureau of Economic Research
Publisher: University of Chicago Press
ISBN: 9780226533568
Category : Business & Economics
Languages : en
Pages : 224
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Book Description
Few United States government programs are as controversial as those designed to aid the poor. From tax credits to medical assistance, aid to needy families is surrounded by debate—on what benefits should be offered, what forms they should take, and how they should be administered. The past few decades, in fact, have seen this debate lead to broad transformations of aid programs themselves, with Aid to Families with Dependent Children replaced by Temporary Assistance to Needy Families, the Earned Income Tax Credit growing from a minor program to one of the most important for low-income families, and Medicaid greatly expanding its eligibility. This volume provides a remarkable overview of how such programs actually work, offering an impressive wealth of information on the nation's nine largest "means-tested" programs—that is, those in which some test of income forms the basis for participation. For each program, contributors describe origins and goals, summarize policy histories and current rules, and discuss the recipient's characteristics as well as the different types of benefits they receive. Each chapter then provides an overview of scholarly research on each program, bringing together the results of the field's most rigorous statistical examinations. The result is a fascinating portrayal of the evolution and current state of means-tested programs, one that charts a number of shifts in emphasis—the decline of cash assistance, for instance, and the increasing emphasis on work. This exemplary portrait of the nation's safety net will be an invaluable reference for anyone interested in American social policy.
Author: Sarah Halpern-Meekin
Publisher: Univ of California Press
ISBN: 0520959221
Category : Social Science
Languages : en
Pages : 299
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Book Description
The world of welfare has changed radically. As the poor trade welfare checks for low-wage jobs, their low earnings qualify them for a hefty check come tax time—a combination of the earned income tax credit and other refunds. For many working parents this one check is like hitting the lottery, offering several months’ wages as well as the hope of investing in a better future. Drawing on interviews with 115 families, the authors look at how parents plan to use this annual cash windfall to build up savings, go back to school, and send their kids to college. However, these dreams of upward mobility are often dashed by the difficulty of trying to get by on meager wages. In accessible and engaging prose, It’s Not Like I’m Poor examines the costs and benefits of the new work-based safety net, suggesting ways to augment its strengths so that more of the working poor can realize the promise of a middle-class life.
Author: National Academies of Sciences, Engineering, and Medicine
Publisher: National Academies Press
ISBN: 0309483980
Category : Social Science
Languages : en
Pages : 619
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Book Description
The strengths and abilities children develop from infancy through adolescence are crucial for their physical, emotional, and cognitive growth, which in turn help them to achieve success in school and to become responsible, economically self-sufficient, and healthy adults. Capable, responsible, and healthy adults are clearly the foundation of a well-functioning and prosperous society, yet America's future is not as secure as it could be because millions of American children live in families with incomes below the poverty line. A wealth of evidence suggests that a lack of adequate economic resources for families with children compromises these children's ability to grow and achieve adult success, hurting them and the broader society. A Roadmap to Reducing Child Poverty reviews the research on linkages between child poverty and child well-being, and analyzes the poverty-reducing effects of major assistance programs directed at children and families. This report also provides policy and program recommendations for reducing the number of children living in poverty in the United States by half within 10 years.
