The Michigan State. University Extension. Earned Income Tax Credit The Michigan State University Extension Earned Income Tax Credit Statewide Learning Demonstration Initiative 9/20/2018

Introduction Share a strategy for delivering income support through partnerships focused on building financial security of low wage earners Spark dialogue among participants on such a strategy I am Susan Cocciarelli, CED Specialist with MSUE and MSU CUA; also the Project Director and Supervisor of the VISTA support component 9/20/2018

Topics of Discussion Asset development through income supports EITC: Methods for achieving these income supports Methods for growing income support 9/20/2018

Topic One Asset development through income supports Access to and use of good financial information and good financial services (not just availability) Incentives to continue earning an income and saving a portion to get ahead Support or affordable mechanisms that allow you to keep what you earn 9/20/2018

Topic Two EITC: Methods for achieving these income supports Setting up sites Advertising to the right population Ensuring that tax preparation assistance is trained to file for all credits Maintaining a competitive edge with for-profit tax prep. services 9/20/2018

Topic Three Methods for growing income support Connect with affordable financial services before filing Integrate financial education and tax filing into job readiness activity Explore existing public mechanisms which encourage savings and even have match incentives – and encourage low wage earners to participate 9/20/2018

Real Life Capitol Area Michigan Works! Lessons learned so far... Michigan Education Savings Program Example of an incentive based education savings program MSU-E EITC Learning Demonstration Initiative Combining EITC sites with opportunities for savings mobilization 9/20/2018

Capitol Area Michigan Works- EITC Pilot Strengths: Have existing credit union staff on site Have target population for EITC Has motivational approach Has the technology Have the organizational capacity Areas for improvement: Scheduling and site management Recruiting low wage earners vs TANF eligible Planning ahead of time 9/20/2018

What This Means Focus on efficient and proven ways that allow people to earn money, keep it, and save it to create buffer from economic downturn Great policy discussions about the use of public funds as investment vehicles for low wage earners ... and extent to which it maintains stability of employment 9/20/2018

Next Steps What are your thoughts about how this might fit into what you are doing? Are people interested in following up through on-going conversation beyond this conference? 9/20/2018