Ideas

Back

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

Learn More

Investing for Re-entry Not Recidivism

Idea Category: Jobs and Entrepreneurship | Funding Source: ARP

Learn More

Education Empowerment Zones

Idea Category: Education | Funding Source: ARP

Learn More

Channeling Savings From Early Graduation Into Pre-K

Idea Category: Education | Funding Source: ARP

Learn More

Bottom Up Water Planning

Idea Category: Infrastructure | Funding Source: ARP

Learn More

Crowdfunding for Communities

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

Learn More

Banking and Credit Union Development Districts

Idea Category: Safety Net | Funding Source: ARP

Learn More

Police Shooting Reporting

Idea Category: Smart Government | Funding Source: ARP

Learn More

Early Childhood Suspension Ban

Idea Category: Education | Funding Source: ARP

Learn More

Levar Stoney | Mayor | Richmond, VA

Mayor Levar Stoney: Mayor's Alliance to End Childhood Hunger

NewDEAL Leader Richmond, VA Mayor Levar Stoney is chairing the new Mayors Alliance to End Childhood...

Learn More

Zeb Smathers | Mayor | Canton, NC

Mayor Zeb Smathers: Federal Funds Help Shape the Hometown of Tomorrow

This week, the Canton, NC governing board, led by NewDEAL Leader Mayor Zeb Smathers, met...

Learn More

Subscribe

Recent News

View All

State and local leaders from across the nation shine spotlight on Phoenix’s vitality

April 16, 2024

Four years ago, Phoenix and the nation faced a global pandemic that we had not...

New Poll: Freedom and Democracy Key to Vote Choice in 2024

April 15, 2024

New Poll find freedom and democracy will be key to voters choices in 2024

NewDEAL Statement on Arizona Supreme Court Decision: One More Step in Stripping Away Rights of Millions of Women

April 9, 2024

Statement from NewDEAL CEO on Arizona Supreme Court Decision

ICYMI: Celebrating 3 Years of American Rescue Plan Impacts

Medium Blog Posts, News Posts

April 9, 2024

Last month, elected leaders across the nation celebrated the positive impact of the American Rescue...