Family Investment and Self-Sufficiency Act of 1994

[AI summary unavailable — showing source text] Family Investment and Self-Sufficiency Act of 1994 - Amends part A (Aid to Families with Dependent Children) (AFDC) of title IV of the Social Security Act to permit a State agency to disregard: (1) the earned income of AFDC recipients; and (2) the child support payments received by them. Amends the Internal Revenue Code relating to refunding credits to allow as a credit against tax a specified percentage of any cash paid by or on behalf of a low-income individual to a qualified asset account for the individual's benefit. Exempts such accounts from taxation. Increases the amount of income that a State agency shall disregard with respect to the stepparent of an AFDC child recipient. Repeals the mandate that State AFDC plans provide aid to dependent children of unemployed parents in accordance with specified requirements. Denies AFDC benefits for applicants who have abandoned a child. Grants a State AFDC plan the option to: (1) deny benefits for additional children and for children who have not received required immunizations; (2) disregard certain income and resources designated for education, training, employability, or self-employment; and (3) increase to $3,000 the disregard limit…