Following two years in lockdown it is unsurprising to see the world in the midst of a cost of living crisis. The two main contributors for this phenomenon are the supply chain shortages brought on the COVID enforced lockdowns and the sanctions on Russian oil imports.
This has meant Americans across the United States are now paying more for everything ranging from groceries, to rent, to utilities. With winter fast approaching, the worst might be yet to come with several Americans, especially those from low income households struggling to make ends meet.
Fortunately, there are several welfare schemes in place to help ease the financial burden on those who are most at risk.
In total there are six major welfare programs American residents can take advantage during trying times. These are Housing assistance, Medicaid, Supplemental Nutrition Assistance Programs (SNAP), Supplemental Security Income and Temporary Assistance for Needy Families (TANF) and finally Earned Income Tax Credit.
How much each benefit is worth varies by state and your personal situation, though a rough average estimate can be derived based on the data logged by those who claim these benefits.
So how much are each of these benefits worth?
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 Program.
In 2019, the average cost of renting a home with utilities included was 1,100 dollars a month.
A program designed to help eligible low-income residents gain health coverage funded by both the federal government and state, the average amount spent per American acorss the US in 2019 was estimated to be 8,436 dollars.
Supplemental Nutrition Assistance Programs (SNAP)
Replacing Food Stamps, SNAP helps low income and eligible residents procure food. It is estimated that SNAP pays on average 243.42 to a single indivdual and 460.64 dollars to each household.
Supplemental Security Income (SSI)
SSI is a program that helps American adults cover basic expenses such as food and shelter. Unlike Social Security SSI is a need-based federal aid program, which does not require a worker to pay into it.
The average monthly SSI payment stood at 617 dollars in 2021.
Temporary Assistance for Needy Families (TANF)
TANF is a federal program where the center issues a certain amount of funds to the state. While various factors go into the final payment it is estimated that TANF payments touched 418 dollars 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 rebate claimed in 2021 stood at 2,411 dollars.