D2D Fund

To capitalize on the potential of U.S. Savings Bonds, D2D suggests a list of simple, low-cost policy changes to reenergize savings in America, especially for lower-income people.

Most of these policy proposals do not require legislation or substantial new government spending.

Increase the Accessibility & Appeal of Savings Bonds

• Offer bonds at tax time – allow tax filers to receive part of any federal refund in savings bond, either for themselves or for others (to allow gifting of bonds, especially to children)
• Clarify emergency redemption policies – more explicit terms for when a bond may be redeemed before its required holding period would increase buy comfort
• Exclude from means-tested benefits – for many lower income families, access to public assistance is critical; saving money in bonds shouldn’t jeopardize this safety net.
• Allow purchases by ITIN holders – everyone benefits if bonds are available to anyone with a social security number or an Individual Taxpayer Identification Number.

Maintain & Build Awareness of Savings Bonds

• Restore marketing budget – since 2003 Congress has approved no money to market Savings Bonds, allowing 70 years of bond promotions and brand building to wither away.
• Re-brand around families / gifting – D2D research suggests family imagery and messaging can connect powerfully with first time and lower-income savers.

Offer Incentives to Buy Savings Bonds

• Expand Saver’s Credit – allowing savings bond buyers to qualify for the Saver’s Credit for Retirement Contributions is a direct, simple way to provide a financial incentive for working people to buy bonds.
• Consider Series "R Bonds" – a new series of bonds, offered at a discount and only available at tax time to income-eligible filers (EITC eligible, for instance), would provide a simple, targeted and accessible incentive to invest in savings bonds.