What does AFDC mean in Accounting?
This page is about the meanings of the acronym/abbreviation/shorthand AFDC in the Business field in general and in the Accounting terminology in particular.
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What does AFDC mean?
- Aid to Families with Dependent Children
- Aid to Families with Dependent Children was a federal assistance program in effect from 1935 to 1996 created by the Social Security Act and administered by the United States Department of Health and Human Services that provided financial assistance to children whose families had low or no income. This program grew from a minor part of the social security system to a significant system of welfare administered by the states with federal funding. However, it was criticized for offering incentives for women to have children, and for providing disincentives for women to join the workforce. In 1996, AFDC was replaced by the more restrictive Temporary Assistance for Needy Families program.