Module 1 Exercises:
Question 1.
Under the 2024 Federal Poverty Guidelines, what yearly income for a single individual is at 125% of the Federal Poverty Level?
Employers subject to the Fair Labor Standards Act must pay the current Federal minimum wage of $7.25 per hour. An individual paid at the federal minimum working 40 hours a week would earn $290 a week, before applying any state or federal taxes. Do you know the minimum wage laws in your state?
Many programs use 125%, 150%, or other percentages as an eligibility marker to receive benefits. The 100% marker of the guideline indicates the bare minimum of income a person or family needs to meet their basic needs, but using markers like 125% and 150% recognize that the FPG is not a perfect measurement for all individuals.
Watch: Tiny Chat: Poverty