FAfter two years in lockdown, it’s no surprise to see the world in turmoil The cost of living crisis. The two main contributors to this phenomenon are supply chain shortages caused by forced COVID lockdowns and sanctions imposed on Russian oil imports.
This means that Americans are across United State They now pay more for everything from groceries to rent and utilities. With winter fast approaching, the worst may be yet to come with many Americans, especially those from low-income families struggling to make ends meet.
Fortunately, there are many welfare programs in place to help ease the financial burden on those most at risk.
In total, there are six major welfare programs that American residents can take advantage of during trying times. These are housing assistance, Medicare, Supplemental Nutrition Assistance Programs (SNAP), Supplemental Security Income and Temporary Assistance for Needy Families (TANF) and finally the Earned Income Tax Credit.
The value of each benefit varies by state and personal situation, although a rough average estimate can be derived based on the data recorded by those claiming the benefits.
So what is the value of each of these benefits?
The two main initiatives under this program are the Housing Choice Vouchers, which are designed to help low-income residents find housing in the private sector, and the Public Housing Programme.
In 2019, the average cost of renting a home with utilities was $1,100 per month.
A program designed to help eligible low-income residents obtain health coverage funded by both the state and federal government, the average amount spent per Accorexian in the United States in 2019 was estimated at $8,436.
Supplemental Nutrition Assistance Programs (SNAP)
Instead of Food Stamps, SNAP helps low-income and eligible residents buy food. It is estimated that SNAP pays an average of $243.42 to a single individual and $460.64 per household.
Supplemental Security Income (SSI)
SSI is a program that helps American adults cover basic expenses like food and shelter. Unlike Social Security, SSI is a federal need-based assistance program, which does not require the worker to pay it.
The average monthly Social Security payment was $617 in 2021.
Temporary Assistance for Needy Families (TANF)
TANF is a federal program where the center issues a certain amount of money to the state. While different factors go into the final payment, TANF payments are estimated to be $418 per month for a single parent family with two children.
Earned Income Tax Credit (EITC)
EITC helps low-income families economically by providing them with tax credits. On average, the tax deduction claimed in 2021 was $2,411.