Advancing Economic Mobility Through Savings

Date: November 19, 2009

Rayburn House Office Building
Room 2456
South Capitol St. SE & Independence Ave. SW
Washington, DC 20515


"This is going to be a different recovery than the past, because Americans are going to have to save more."  - Tim Geithner, US Secretary of the Treasury
Saving is a key to economic mobility as well as economic recovery. But, despite the critical importance of savings, most Americans – especially those with low incomes – are not saving enough. Federal policy encourages saving for the wealthy, but for low-income Americans saving is often discouraged and the path to self-sufficiency is made more difficult.
We invite you to join us on Thursday, November 19, to learn about a new report being released by The Economic Mobility Project, A Penny Saved is Mobility Earned: Advancing Economic Mobility through Savings. The event is hosted by the Congressional Savings and Ownership Caucus.
Date: Thursday, November 19, 2009, 1:00 p.m. - 2:00 p.m.

Congressional Savings and Ownership Caucus Co-Chairs:
The Honorable Jim Cooper (D-TN)
The Honorable Thomas Petri (R-WI)
The Honorable Earl Pomeroy (D-ND)
The Honorable Joseph Pitts (R-PA)

Reid Cramer – Director, Asset Building Program, New America Foundation
Rourke O'Brien – Research Fellow, Asset Building Program, New America Foundation
Featured Speaker:
John Morton – Managing Director, Economic Policy, The Pew Charitable Trusts
The report, with contributions by Reid Cramer and Rourke O'Brien, demonstrates the connection between savings and mobility, identifies barriers to saving, and lays out concrete steps to help Americans achieve improved economic mobility and realize the American Dream. The Congressional Savings and Ownership Caucus is a bipartisan group of Members dedicated to raising awareness about the importance of boosting personal savings, individual ownership of wealth, and financial education.
Please join the Asset Building Program of the New America Foundation, The Economic Mobility Project of The Pew Charitable Trusts and members of Congressional Savings and Ownership Caucus as they launch the Caucus for the 111th Congress.
To RSVP for the event, go to the event page on the New America Foundation's Web site.
For questions, contact Stephanie Gunter at (202) 596-3367 or
For press inquiries, contact Samantha Lasky at (202) 286-4050 or

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