Join other local Leadership programs for the annual Federal Reserve Bank Economic Update: The Peril of Benefits Cliffs on May 24.
This interactive presentation by the Federal Reserve Bank of Richmond will focus on education through a human capital lens and discuss the benefits and barriers that students and young adults face when investing in their own skills. Adults already in the workforce – particularly low-income workers – face the additional challenge of “benefits cliffs.” Despite acquiring additional skills and a higher salary, their income may end up being lower, as they are no longer eligible for financial assistance such as child care subsidy and a portion of benefits from the Supplemental Nutrition Assistance Program (SNAP).
The Federal Reserve Bank of Richmond and United Way of Central Maryland have partnered with the Atlanta Fed to use CLIFF tools, a suite of digital resources that showcase the loss of public assistance a worker might face with an increase in income, and the simultaneous gap in financial resources. The CLIFF tools also facilitate the simulation of policy and programmatic solutions.
Attendees will be some of the first in Maryland to see how these new tools and resources are being deployed and ask questions.
Speakers from the Federal Reserve Bank of Richmond include Urvi Neelakantan, Senior Policy Economist in the Research Department, and Peter M. Dolkart, Community Development Regional Manager and a graduate of Leadership Maryland and GBC Leadership.
- May 24, 2022
7:30 am - 9:30 am
Venue: Federal Reserve Bank
Venue Phone: 410-576-3300