Savings limit for food stamps?

Last year, Maine joined several other states in imposing a rule that childless adults in the state cannot receive food stamps if they have more than $5,000 in bank accounts or own certain assets such as a second car.

New Hampshire does not currently set a limit on assets a person can have in order to be eligible to receive food stamps.

Supporters of the move argue that welfare should be a last resort, and that individuals should spend their own money or sell assets before receiving it. They believe that setting asset limits will reduce state spending by reducing the number of people eligible for aid.

Opponents counter that studies show asset limits do not reduce the number of individuals receiving welfare. They argue that setting limits punishes people for saving money, a behavior that has been shown to contribute to increased earnings and financial stability. They also note that asset limits increase the costs of administration, and could therefore make the state’s welfare program more expensive.