Americans for the Arts endorses the Allowing Steady Savings by Eliminating Tests (ASSET) Act

Senator Chris Coons (D-DE) introduced the Allowing Steady Savings by Eliminating Tests (ASSET) Act on July 26. The bill would eliminate asset limits on Temporary Assistance for Need Families (TANF), Supplemental Nutrition Assistance Program (SNAP), and Low-Income Home Energy Program (LIHEAP). The bill would increase current asset levels from $2,000 to $10,000 and from $3,000 to $20,000 for couples. Since many public assistance programs limit eligibility for benefits based on assets, many families reduce their dependence on these programs. Many artists and art workers require these programs for financial support, and restricting their eligibility for public assistance programs negatively affects their financial security.

Americans for the Arts endorses this bill in support of artists and arts workers who depend on these programs. "This is an issue of critical importance to artists and art workers given the reality of our periodic incomes," said Americans for the Arts co-CEO Jamie Bennett. "The ASSET Act will give artists the resources they need to continue producing their works."

This legislation represents a positive initial step, and the hope is it will spur broader bipartisan conversation on federal support. Due to the varied costs of living across the United States, a single federal poverty standard proves challenging. To effectively address the needs of local communities, federal, state, and local policymakers should join citizens and advocates to discuss how to bolster policies and develop tailored solutions.

Americans for the Arts Action Fundjoins in endorsing this bill. Executive Director, Nina Ozlu Tunceli stated, "Supporting artists at all economic levels is one of our overall goals. With this bill, artists who qualify will be able to receive public assistance programs and grants for their work. We're grateful to Senator Coons's initiative."

Senator Coons's ASSET Act aligns with AFTA's mission to advocate for and support artists and independent arts workers.