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

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Investing for Re-entry Not Recidivism

Idea Category: Jobs and Entrepreneurship | Funding Source: ARP

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Education Empowerment Zones

Idea Category: Education | Funding Source: ARP

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Channeling Savings From Early Graduation Into Pre-K

Idea Category: Education | Funding Source: ARP

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Bottom Up Water Planning

Idea Category: Infrastructure | Funding Source: ARP

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Crowdfunding for Communities

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

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Banking and Credit Union Development Districts

Idea Category: Safety Net | Funding Source: ARP

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Police Shooting Reporting

Idea Category: Smart Government | Funding Source: ARP

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Early Childhood Suspension Ban

Idea Category: Education | Funding Source: ARP

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