Asset Tests

Federal law limits assets of food stamp recipients to $2,250 or $3,250, but 34 states have used loopholes to waive the asset test altogether. By restoring asset testing to the federal baseline, taxpayers would save more than $7 billion nationally. With no asset test, even millionaires can receive food stamps.

What counts as an asset?

Counts: Cash, bank deposits, stocks, bonds, other liquid assets

Exempt: Home equity, one or more vehicles*, household or personal goods, life insurance, pension funds or retirement accounts, education savings accounts.

*all states exempt at least one vehicle, most states exempt all

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