What is Universal Basic Income?

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Data Speak Volumes in Support of Monthly Child Tax Credit

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     The American Rescue Plan, last year’s pandemic relief package, could be the long-term strategy for ending child poverty in America . Studies conducted over the past year have found significant evidence that one policy expansion effectively reduces hardship, strengthens financial security for families and supports mothers in the workplace: the monthly Child Tax Credit.      In a recently published study by our own Dr. Leah Hamilton and colleagues surveyed some 1,200 parents who received the Child Tax Credit in monthly installments from July to December 2021. They also surveyed a comparison group of Americans with similar income levels in order to draw conclusions about the potential benefits of receiving a monthly tax credit in a wide range of areas including work, health, and financial stability.      We found that families were more financially secure, more likely to be working and better equipped to make healthy choices as a result of the Child Tax Credit's monthly install
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Asset Limits in Public Assistance and Savings Behavior Among Low-Income Families

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               Low-income families receiving public benefits in the United States are often subject to asset limits for eligibility, which some argue to be counterproductive to their long-term economic stability. Previous research suggests that families may be more likely to save when states increase these limits. Still, more research is needed to establish whether low-income families adjust financial decisions based upon TANF asset restrictions. Our study builds upon the Nam (2008) study, which analyzed the effects of “liberalizing asset limits'' on savings behavior. We utilized data from the Panel Study of Income Dynamics. The theoretical premise of this study is that when the asset limit is low, families are encouraged to avoid accumulating assets. Because building a savings account is a valuable first step toward self-sufficiency and eventual withdrawal from public assistance, a low asset limit appears to be a counterproductive public policy. Moreover, could potentially ex
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