Low-income families receive federal financial support through more than a dozen programs, including SNAP. States administer the programs and can set eligibility requirements, which typically limit household income and the dollar value of liquid holdings such as cash, savings, and material property, like cars. Opponents of these limits argue that they discourage low-income households from saving for self-sufficiency; supporters say the strict guidelines efficiently allocate government resources. A recent issue brief examines the findings of three studies that looked at the effect of asset limits on family finances and state and program costs and obligations. Taken together, these analyses indicate that enforcing asset limits returns no clear benefits to states, as relaxing or eliminating them does not increase program enrollment or participation. However, while removing limits does not meaningfully affect households’ assets, doing so may reduce barriers to family financial well-being as measured by bank account and vehicle ownership.
Source: Pew Trusts, 9/28/17, Do Asset Limits Work?
No comments:
Post a Comment