Recently we talked with Bob Friedman about the early days of the asset building movement and how this work drew in funders. Here, in our second article based on that conversation, we hear his thoughts on where the movement is today and where it may be going.
Back in the spring of 2013, when plans for the first enrollment period for ACA were underway, funders were skittish about the public knowing of their support for enrollment efforts, fearing negative backlash from conservative critics. Now, with the White House’s recent announcement that 11.4 million Americans have successfully signed up for Obamacare, funders are more openly acknowledging their support for enrollment efforts.
Money for financial education is flowing pretty steadily these days from banks and other financial services corporate foundations. Now PwC, one of the Big Four auditors and the world’s second largest professional services network, is coming through with grants big and small to improve financial education and skills development for children.
The Obama administration has broken new ground in bringing together the power of philanthropy and government. Near the center of that effort is Michael Smith, the White House aide in charge of My Brother’s Keeper.
We talked with the godfather of asset building, who himself comes from a philanthropic family, to get the inside story of how top foundations got behind one the most innovative policy movements in decades.
In recent years, the bank has dramatically ramped up its grantmaking to help revitalize cities and bolster urban workforces. Now it’s getting more intellectual firepower on its side by hooking up with a top think tank.
From the Whitehouse Press Office:
Sens. Whitehouse, Cornyn Introduce Prison Reform Legislation
Washington, D.C. – U.S. Sens. Sheldon Whitehouse (D-RI) and John Cornyn (R-TX) today announced their plans to introduce the Corrections Oversight, Recidivism Reduction, and Eliminating Costs for Taxpayers in Our National System (CORRECTIONS) Act.
The bill, which would improve public safety and save taxpayer money by requiring lower-risk prisoners to participate in recidivism reduction programs to earn up to 25 percent of their sentence in prerelease custody, is based off reform efforts in both Texas and Rhode Island. A similar version of the bill passed the Senate Judiciary Committee with a 15-2 vote last Congress.
“Texas has been a national leader for prison reform, finding ways to partner with faith-based and community organizations to ensure prisoners can change their lives instead of becoming career criminals,” Sen. Cornyn said. “We can improve our criminal justice system, save money, and make our communities safer all at the same time. I am hopeful Congress will follow our state’s lead in this important area.”
“As a former state and federal prosecutor, I recognize that there are no easy solutions to overflowing prison populations and skyrocketing corrections spending,” said Whitehouse, a former U.S. Attorney and Attorney General for Rhode Island. “But states like Rhode Island have shown that it is possible to cut prison costs while making the public safer. Our bill is built on the simple premise that when inmates are better prepared to re-enter communities, they are less likely to commit crimes after they are released – and that is in all of our interests.”
The federal prison population has expanded rapidly in recent decades, growing from around 24,000 inmates in 1980 to over 210,000 today. Spending on the federal Bureau of Prisons has risen dramatically, rising from $3.1 billion in 1998 to a requested $6.9 billion in fiscal year 2013.
Recidivism has also been proven to be a significant problem, with one study estimating that 68 percent of prisoners from 30 states surveyed were arrested once again within three years of being released.
Background on the Whitehouse-Cornyn Legislation:
– Requires all eligible offenders to undergo regular risk assessments to determine whether an offender has a low, medium, or high-risk of re-offending.
– Excludes all sex offenders, terrorism offenders, violent offenders, repeat offenders, major organized crime offenders, and major fraud offenders from earning credits under the program.
– Encourages participation in recidivism reduction programs and productive activities, like prison jobs.
– Contains no new authorized spending, and requires the Bureau of Prisons to partner with faith-based groups and non-profits.
– Allows earned time credits for low-risk prisoners of up to 10 days for every 30 days that the prisoner is successfully completing a reoffender reduction program or productive activity.
– Allows medium risk prisoners to earn a 5 day for 30 day time credit while successfully completing recidivism reduction programs and productive activities. These offenders would only be able to use these credits if they demonstrate a substantial reduction in their probability of reoffending as a result of participation in programs.
– Does not allow high risk offenders to use any time credits unless they reduce their risk levels to a lower tier.
– Would allow certain low risk offenders who demonstrate exemplary behavior to spend the final portion of their earned credit time on community supervision.