Senate Health and Human Services Committee okays dropping assets test from welfare requirements
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Reported by Harry Hall
Bell Policy Center volunteer
In a 6-0 vote, with one senator was excused, the state Senate Health and Human Services Committee on Friday approved the elimination of an assets test in determining eligibility for cash assistance under the federal Temporary Assistance to Needy Families program.
The vote was on Senate Bill 134, sponsored by Sen. Paula Sandoval, D-Denver, and Rep. Betty Boyd, D-Lakewood.
This asset test currently denies TANF eligibility to anyone who has more than $2,000 in assets. Such assets include health savings accounts, retirement funds, college funds, and checking and savings accounts. These savings have an important impact on economic security, educational attainment, and household stability.
Seven people, including Rich Jones, the Bell's director of policy and research, offered testimony during the committee hearing. Six of those who testified favored eliminating the assets test requirement. Their reasons included a minimal cost to state government and the value of enabling dependent families to preserve their limited financial resources.
Holding modest savings while getting temporary assistance helps these families build a bridge from government dependency to self-sufficiency.
For more information on SB 134, read an Opportunity Note on the bill researched and written by Robin Baker, a Bell senior policy analyst.
You can find the Note on the Policy Watch page of Bell's web site, www.thebell.org.
Bell Policy Center volunteer
In a 6-0 vote, with one senator was excused, the state Senate Health and Human Services Committee on Friday approved the elimination of an assets test in determining eligibility for cash assistance under the federal Temporary Assistance to Needy Families program.
The vote was on Senate Bill 134, sponsored by Sen. Paula Sandoval, D-Denver, and Rep. Betty Boyd, D-Lakewood.
This asset test currently denies TANF eligibility to anyone who has more than $2,000 in assets. Such assets include health savings accounts, retirement funds, college funds, and checking and savings accounts. These savings have an important impact on economic security, educational attainment, and household stability.
Seven people, including Rich Jones, the Bell's director of policy and research, offered testimony during the committee hearing. Six of those who testified favored eliminating the assets test requirement. Their reasons included a minimal cost to state government and the value of enabling dependent families to preserve their limited financial resources.
Holding modest savings while getting temporary assistance helps these families build a bridge from government dependency to self-sufficiency.
For more information on SB 134, read an Opportunity Note on the bill researched and written by Robin Baker, a Bell senior policy analyst.
You can find the Note on the Policy Watch page of Bell's web site, www.thebell.org.
