Family Investment Act of 1987

[AI summary unavailable — showing source text] Family Investment Act of 1987 - Amends part A (Aid to Families with Dependent Children) (AFDC) of title IV of the Social Security Act to authorize the appropriation for each fiscal year of a sum sufficient for the operation of State family investment plans approved by the Secretary of Health and Human Services. Sets forth the prerequisites for plan approval, including the requirement that such plans provide family living standard supplement payments covering the cost of basic necessities to all low-income families with dependent children residing in the State. Requires the Secretary, within one year of this Act's enactment, to publish a uniform national methodology, developed by the National Academy of Sciences, which calculates family living standards taking into account cost variations among and within States. Sets the amount of assistance paid to a family at the difference between the applicable living standard and the family's income, excluding 25 percent of the family's earned income from such equation. Authorizes States to phase in the full family living standard within ten years, but prohibits family benefit payments from being reduced to a level below that which would have …