No. It was correct. You perhaps were expecting the French version “largesse”....but largess is perfectly acceptable.
Dictionary definition is a bestowal of extravagant gifts for show. In our case, welfare, EBT, EITC, SNAP, TANF are are certainly what I’d call extravagant based on the services performed, only in the sense that the reward for the gift by government is a vote.
Kinda the opposite of a gift.