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Learn More About Benefits Cliffs

As part of the Richmond Fed’s mandate to strengthen the economy and the Fifth District communities it serves, our Bank’s Community Development team continues to spread the word about the persistent issue of benefits cliffs, which can occur when slight increases in earnings cause low-wage workers to lose some of the public assistance that has kept them financially afloat.

An increase in wages that triggers a reduction in public resources, such as childcare funding, or assistance with food or housing costs, can cause a financial setback that isn’t easy to overcome.

Over the past year, our Bank has partnered with the Atlanta Fed to give policymakers and workforce development leaders access to a suite of tools that can help them better understand the issue and explore how to mitigate this challenge for workers. Learn more on the Richmond Fed’s Benefits Cliffs webpage.

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Jim Strader (804) 697-8956 (804) 332-0207 (mobile)