Savings Soars: OpportunityTexas’ Tax-Time Savings Project Triples Impact from Last Year

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Author:
Laura Rosen /(512) 320-0222 x 120

August 20, 2012

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The OpportunityTexas Tax-Time Savings Project (TSP) â€" a partnership with the United Ways of Texas and Foundation Communities â€" aims to increase household savings and reduce asset poverty. TSP provides modest incentives to clients who get their taxes prepared at Volunteer Income Assistance (VITA) sites to encourage them to save a portion of their tax refunds by purchasing at least one U.S. Savings Bond. As a result of our partnerships promoting savings at tax time, the number of VITA savers has soared. The numbers of savers tripled and the amount saved quadrupled from last year.