Growth in Means-Tested Programs and Tax Credits for Low-Income Households

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By William Carrington (au); Molly Dahl (au); Justin Falk (au)
Year: 2013
Pages: 35
Binding Paperback
ISBN 978-1-4578-4421-8

Product Code: 1457844214

Description

The federal government devotes roughly one-sixth of its spending to 10 major means-tested programs and tax credits, which provide cash payments or assistance in obtaining health care, food, housing, or education to people with relatively low income or few assets.federal spending on those programs and tax credits totaled $588 billion. Total federal spending on those 10 programs rose more than tenfold (by an average of about 6% a year) in the four decades since 1972 (when only half of the programs existed). As a share of the economy, federal spending on those programs grew from 1% to almost 4% of GDP over that period. Medicaid accounted for more than 40% of the federal spending on those programs in 2012, followed in size by SNAP. A decade from now, Medicaid will account for an even larger share of spending on those programs. This report shows that a new means-tested program äóî federal subsidies to help low- and moderate-income people buy health insurance through insurance exchanges, which will begin in 2014 äóî will become the second-largest means-tested program in 2023. Figures and tables. This is a print on demand report.

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