CAAB Provides Testimony to DC Council's Committee on Government Operations re DC MOLA, DC EITC Campaign and DC Ahorra y Prospera Campaign
On February 14, 2019, Joseph Leitmann-Santa Cruz, Acting Executive Director of Capital Area Asset Builders (CAAB) and Manager of the DC EITC Campaign and the DC Ahorra y Prospera Campaign, provided testimony re CAAB's partnership with the DC Mayor's Office on Latino Affairs and the work CAAB does through the DC EITC Campaign and DC Ahorra y Prospera Campaign for the benefit of low- and moderate-income Latinx community members in the District of Columbia.
MOLA is a key partner of CAAB's DC Ahorra y Prospera Campaign and DC EITC Campaign.As stated by Leitmann-Santa Cruz, "Income poverty is a way of life for 15% of households in the District of Columbia—a rate twice that of the number of households living in income poverty throughout the DC metropolitan region. But far more households (41%) are financially vulnerable. Latinas/Latinos fare even worse: 57% of Latina/Latino households are liquid asset poor. Although many residents in the District earn above poverty wages, these “liquid asset poor” households do not have enough savings to live above the poverty level for just three months if they lose a job, face a medical crisis or suffer another income disruption. This means that more than one out of every two Latina/Latino households in the DC live in a state of persistent financial insecurity, one emergency away from falling into debt or even losing a home. The inability to bounce back from financial pitfalls not only hurts local Latinas/Latinos, it stifles the long-term economic growth of the District of Columbia."
To read CAAB's testimony, please see the attached document.
About the DC EITC Campaign
The CAAB-managed DC EITC Campaign, is a citywide, cross-sector initiative that provides access to information on the EITC and connects Washingtonians with free tax preparation services throughout the District.
The DC EITC Campaign is made possible through the support from the DC Department of Insurance, Securities and Banking (DISB), Washington Gas, Citi Community Development, United Way of the National Capital Area as well as other key private sector partners.
DC EITC Campaign Partners
Community Tax Aid
www.communitytaxaiddc.org/
Community Tax Aid (CTA) was founded in 1987 with a mission to provide high-quality free income tax services to low-income taxpayers in the Washington, DC metropolitan area. CTA's primary goal is to promote economic stability through accurate and timely filing of tax returns and secondarily to connect taxpayers to other asset building opportunities. Our services are critical to the financial well-being of low-income families and their ability to build wealth. The tax return is required in order to obtain tax refunds and key credits, such as the Earned Income Tax Credit (EITC), and other asset-building opportunities, such as qualifying for academic financial aid/or obtaining a mortgage or a small business loan. Annually, we help over 6,000 low-income taxpayers overcome barriers created by the cost and complexity of tax compliance so they can build their financial futures.
About Capital Area Asset Builders
Capital Area Asset Builders (CAAB) is a non-profit organization whose mission is to empower low- and moderate-income residents of the Greater DC Area to take control of their finances, increase their savings, and build wealth for a better future.
Connect with CAAB via our social media platforms:
- Twitter: @CAAB_GreaterDC
- Facebook: https://www.facebook.com/CapitalAreaAssetBuilders
- LinkedIn: https://www.linkedin.com/company/capital-area-asset-builders
