Ideas

Eric Johnson
Mayor | Dallas, TX

Prize-Linked Savings Accounts

Idea Category: Safety Net

Problem

In Texas, more than 1 in 3 households lack a savings account. Additionally, roughly half of all Texas households do not have the savings to be able to cover their basic expenses for three months in case of an emergency.

Solution

Representative Eric Johnson has sponsored legislation to allow banks and credit unions to operate prize-linked savings account programs in which the ticket to enter is a deposit into an individual's savings account. Prize-linked savings accounts have been proven as an effective way to reduce poverty and increase financial security, which benefits the entire community.

More Idea’s From Eric Johnson

ARP: Dallas TX, Leads Regional Effort to Address Homelessness

Idea Category: Housing | Funding Source: ARP

Investing for Re-entry Not Recidivism

Idea Category: Jobs and Entrepreneurship | Funding Source: ARP

Education Empowerment Zones

Idea Category: Education | Funding Source: ARP

Channeling Savings From Early Graduation Into Pre-K

Idea Category: Education | Funding Source: ARP

Bottom Up Water Planning

Idea Category: Infrastructure | Funding Source: ARP

Crowdfunding for Communities

Idea Category: Equity & Opportunity, Jobs and Entrepreneurship | Funding Source: ARP

Banking and Credit Union Development Districts

Idea Category: Safety Net | Funding Source: ARP

Police Shooting Reporting

Idea Category: Smart Government | Funding Source: ARP

Early Childhood Suspension Ban

Idea Category: Education | Funding Source: ARP