New Resources: Asset Limits Website and Policy Papers

Today, the Asset Building Program is unveiling a new online resource about asset limits in public assistance programs. Asset limits have been a hot issue recently in the Farm Bill debate, with the House version of the bill calling for the elimination of states’ flexibility to set their own asset policies for SNAP. Though the House bill failed, the asset limit discussion isn’t over – particularly amidst new proposals to remove SNAP from the Farm Bill entirely, which some predict could be a strategy to pursue even bigger cuts.

This new resource, Modernizing Asset Limits: Promoting Savings, Simplicity and Self-Sufficiency is designed to serve as a tool for policymakers and the public about asset limits in both SNAP and other public assistance programs. It is accompanied by two new written products: a policy statement articulating a clear case for reform of asset limits across programs, and a SNAP-specific issue brief, which complement our recent research paper analyzing the state-level impact of asset tests on program access and administration.

Here’s a quick overview of what you can find on the site. On the homepage, you’ll find our most up-to-date content and blog posts about asset limits. You’ll also be able to navigate to the four sub-pages of the site via tabs on the right side of your screen.  These pages are:

Basics

If you’re a regular reader of our blog, the issue of asset limits is likely a familiar one – but if it’s a bit newer to you, the Basics page provides a quick overview of what asset limits are, how they are established, and why they are in need of reform.

SNAP Asset Limits

The SNAP Asset Limits page is designed to visualize the trend among the states over the past fifteen years to increase or eliminate their SNAP asset limits. The time lapse map on this page reveals how the number of states that have reformed their asset limits has grown from only three in 2000 to over forty today. States have embraced the flexibility to establish their own asset limit policies – which is one reason it’s particularly alarming that recent Farm Bill proposals would eliminate this option. To view the status of SNAP asset limits in any particular year, click on that year below the map and the time lapse animation will pause.

In Your State

What we hope to be one of the most useful pieces of the site is the In Your State page, which features an interactive map users can scroll over to view some quick facts about their state’s asset limit policies and poverty statistics. The states are color coded according to their “effective asset limit,” which is the lowest limit a family could be subject to if they otherwise qualified for SNAP, TANF and LIHEAP (as described in the glossary below the map). As we explored in our policy paper, many families are eligible for multiple types of assistance, which often have conflicting or inconsistent asset policies. The effective asset limit is one way to conceptualize how these policies interact and curb the efficacy of policy reforms undertaken in one program in isolation.

By clicking on a particular state, you can access a fact sheet summarizing the status of asset limits in that state and where there is potential for further reform. These fact sheets can be downloaded as PDFs that you can print and use as resources within your community.

Infographic

Lastly, the site features an infographic aimed at illustrating how asset limits often require families to live well below the asset poverty threshold to access what is intended to be short-term assistance. For these families, an unexpected expense due to a car accident, medical emergency, or essential home repair could trigger a debt spiral that is nearly impossible to escape – potentially increasing reliance on public assistance in the long run. A safety net that encourages rather than punishes savings is vital to helping families move to economic stability permanently and break the intergenerational transfer of poverty.

So that’s the nuts and bolts. We’re calling this site “Version 1.0,” and we hope to add additional features and resources in the future. If you have any ideas for how it could be more useful to you or your community, please send us your feedback, tweet at us (@AssetsNAF) using the hashtag #AssetLimits, or leave a comment below!