The House Republicans’ new budget proposal, passed yesterday by the House Budget Committee, would make it harder for thousands of Idaho families to build financial stability and climb the economic ladder. The plan, which largely echoes that of President Trump’s proposal released in May, includes severe cuts to vital assistance programs, including job training, education, health care, food assistance and economic development in Idaho communities.
Although Idaho employers are doing well, many Idahoans are still stuck in low wage jobs, according to a report released today by Corporation for Enterprise Development (CFED). According to the report, 45.5% of Idaho’s households are locked into a “new normal” of perpetual financial insecurity, unable to build the savings needed to last even three months in the event of an emergency. The research, reflected in CFED’s 2016 Assets & Opportunity Scorecard, also found that state policies are doing little to improve the financial security of Idahoans.
2015 Idaho Assets and Opportunity Scorecard Released
Gem State also ranks low for college completion and last nationally in early education
Excerpt: “We are pleased that Idaho ranks so well when it comes to business and jobs, however we still have much work to do when it comes to raising incomes so that our workers are paid a living wage. Idaho continues to lag behind the rest of the nation when it comes to income from work and this compounds the issue of financial security when families are just struggling to pay basic expenses,” said Jessica Sotelo, Executive Director of Partners for Prosperity.
New Report Shows Many Idaho Residents Struggling to
Achieve Financial Security
Lack of Well-paying Jobs, Low Health Insurance Rates Highlight
Need for Comprehensive Public Policy Response
Excerpt: “Idaho needs to develop programs that address the problem of low-paying jobs, barriers to health care and other obstacles that prevent too many people from building a better future for themselves and their families – and contributing to the long-term economic health of our state.” – Jessica Sotelo
“The quality of every Idahoan’s life is dramatically affected by how you manage your money. Financial education is a key to providing Idahoans the tools to achieve a better financial life. I encourage every Idahoan to take advantage of the great free resources available during the month to learn about the wise use of credit, the basics of saving and investing, home ownership preservation, and the pitfalls associated with financial fraud.” – Governor C.L. “Butch” Otter