Today, Senator Crawford introduced LB430 which aims to support families who access Aid to Dependent Children (ADC) and Child Care subsidies in achieving a successful financial future.
Ultimately our work support programs should preserve and encourage long-term financial security. As many of our programs are currently structured the rules require families to liquidate almost all of their savings before being eligible for help.
In 2011, Nebraska started to change this by raising the asset limit in the SNAP program to $25,000. This helps families preserve some of their long-term savings for things like education or retirement when they hit a short-term hardship like a job loss.
By raising the asset limits for all our support programs- like ADC or child care subsidies- we can help families regain a strong financial footing so they are able to support themselves again. And by making asset limits uniform across programs, we can eliminate the administrative challenges of different programs having different limits and make these programs more efficient.
With the support of the legislature, we are a step closer at ensuring that all Nebraskan children and families have the opportunity to achieve a successful financial future.