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To all of our California Asset Building colleagues and friends,

The past twelve months have seen many advances on the economic empowerment front: , the first city-based , the , and legislation in California which boosts communities’ ability to build assets through energy efficiency and new green technologies; promotes savings opportunities for education and skills training through the formation of Life-Long Learning Accounts (LiLAs); and, .

And then there was our report , which called new attention to the $1.2 billion in Earned Income Tax Credits left unclaimed every year by an estimated 800,000 Californians. It found that EITC refunds lead to job creation, boost small businesses, create new tax revenue, and spur state and local economic growth. In addition to drawing to the issue, the report led to , a encouraging 46,000 Californians to claim their hard earned federal tax credit, and the first statewide EITC and Asset Building/EITC Coalition.  

Last week, we co-hosted a forum in Los Angeles about “” with the AARP Foundation. See complete video of all the panel sections . That same day in San Jose, we joined the Silicon Valley Community Foundation for the event – where we spoke with speaker Gary Rivlin, author of “Broke USA: From Pawnshops to Poverty, Inc.—How the Working Poor Became Big Business.” See that mini-interview and more .

To kickoff the new legislative session, we joined Assemblyman Bradford when  legislation, which seeks to increase investment in our state’s economically at-risk communities. Stay tuned upcoming legislative announcements and events in the new year to boost small businesses, empower workers, and provide long term economic security for more Californians. 

Along with the California Center for Research on Women and Families, we are once again co-hosting the Working Families Policy Summit, the largest annual convening for California working family, and health advocates on Wednesday January 12 in Sacramento. !

For those looking for more local models, the Los Angeles City Council will be holding a special hearing on poverty of the Jobs and Business Development Committee. Those interested can attend on Tuesday January 25 at 1 pm for an update on the City’s Banking Development District program, the creation of a revised city poverty line, and many other poverty-reduction efforts TBA.

As we enter 2011, we are reminded of the importance of creating structures that provide low-income people with incentives and tools to help them get ahead: income poverty is growing, and those who are not getting ahead are not just staying in one place. .

We want to thank you all for your continued partnership in the effort to increase every Californian’s ability to access sound financial services and build savings and wealth. Happy holidays and a prosperous New Year, from the California Asset Building Program (!).