Webinar: Encouraging Savings: How Hawaii and Illinois Eliminated Their TANF Asset Tests

Resource Overview

Public benefit programs, including Temporary Assistance for Needy Families (TANF), have historically included an asset limit. An asset limit prevents applicants with savings or other assets exceeding the limit from receiving assistance. Asset limits force families in need to spend their limited savings before they can qualify for assistance, leaving them vulnerable to financial emergencies and preventing them from moving along the path to financial security. Asset limits also discourage aid recipients from saving–sending the wrong message to families. Many states have eliminated the asset tests for their Supplemental Nutrition Assistance Program (formerly Food Stamps) and/or their medical assistance program, but most have retained their asset test for Temporary Assistance for Needy Families (TANF). In addition to achieving the policy goal of encouraging savings, states can realize significant administrative savings by eliminating their TANF asset limit.

The webinar features advocates from Hawaii and Illinois who led successful campaigns to eliminate the TANF asset test in their respective states this past year.  Download our fact sheets on IABG’s Illinois campaign to eliminate the Asset Test from TANF.

Presenters:

 

This webinar was co-hosted by Sargent Shriver National Center on Poverty Law, Woodstock Institute, Illinois Asset Building Group, Office of Hawaiian Affairs, and the Hawai’i Alliance for Community-Based Economic Development.

More Related Resources

Eliminating the TANF Asset Limit Fact Sheet

People seeking TANF assistance in Illinois cannot own more than $2,000 in non-exempt assets at any...

Read more

31.6% of Black Households in Illinois Have Negative or Zero Net Wealth

This post is written by Amber Blatt, the Heartland Alliance Policy & Advocacy Intern. New data...

Read more

2017 Legislative Roundup

IABG advocates for policies that close the racial wealth gap, expand savings opportunities, and...

Read more