The increase in food stamps, formally known as SNAP benefits, is an extension on a benefit that ends in November. It is unknown if this will be a permanent change or if there will be an expiration date after the Nov. 1 deadline. More than 4 million Massachusetts residents are receiving food stamps and the cost of this program is rising. How long will the increase in food stamps last?
The Stimulus Bill Increased the Amount Of Money People Will Get In Food Stamps By 15% This Year.
The stimulus bill increased the amount of money people will get in food stamps by 15% this year.
The increase is good for two years and will help families get more food for their money.
But there are a couple of problems with this. First, the increase does not apply to all food stamp recipients. Only people who receive the maximum benefit will see their checks go up by 15%. For example, if you are eligible for $200 per month in food stamps and you have one child (the maximum benefit), then your check would be increased from $200 to $225 per month. If you have two or more children, then your check would be increased from $200 to $267 per month.
The Federal Food Stamp Program Typically Sees Increases In The Summer Due To Rising Food Costs.
The increase in food stamp usage is expected to continue for some time due to rising food costs, according to the USDA.
The USDA’s monthly food price report showed that the cost of fruits and vegetables has increased by 8% over last year and that the cost of meats and fish has increased by 3%. The report also showed that Americans are spending more money on groceries than they have in the past few years.
The federal food stamp program typically sees increases in the summer due to rising food costs. However, this year’s increase was larger than usual due to rising fuel prices, which have driven up the cost of transporting food products across the country.
The USDA reported that 1 out of every 7 Americans receives food stamps from their local government agency. The average recipient receives $132 per month to purchase groceries for their household.
The Increase Is Going to Primarily Affect People Who Already Rely On Food Stamps On A Regular Basis.
The increase is going to primarily affect people who already rely on food stamps on a regular basis.
The number of people who receive food stamps has been steadily increasing since the recession. In 2008, before the recession, about 26 million Americans received benefits. That number rose to 46 million in 2013 and grew to 47 million in 2016.
The USDA says that about 44 percent of those receiving benefits were children or elderly people. Another 20 percent had jobs but their wages were too low for them to buy food without help from the government program.
Food stamp benefits are not indexed to inflation, so they have not increased with inflation since 2008. According to USDA data, the average monthly benefit per recipient was $126 per person in 2016.
The Next Increase Will Not Be As Large And Will Probably Only Be Around 2.5% Based On Past Increases.
The next increase will not be as large and will probably only be around 2.5% based on past increases.
The increases in food stamp benefits are tied to the Consumer Price Index (CPI). The CPI is the Bureau of Labor Statistics’ measure of inflation for all urban consumers and is used by the IRS to adjust tax brackets each year. In order to qualify for food stamps, you must have zero dollars of income after deductions for medical expenses and childcare costs, among other things. The maximum monthly benefit for a family of three is $526.
The most recent increase came after a 0.5% increase in January, which was tied to inflation in December 2015. The last increase was enacted on September 30, 2015 but didn’t take effect until October 1st because of federal budget rules that restrict spending during any given fiscal year based on an automatic formula tied to growth in GDP or inflation (whichever is lower).
There are two other factors affecting food stamp benefits. First, eligibility rules vary by state and may change over time depending on whether they’re part of a pilot program like SNAP-Ed (Supplemental Nutrition Assistance Program Education).
Conclusion
On average, a family of four will devote about 13% of their budget for food purchased at home in a typical year. Although this is just an average, some families will spend more than that on groceries. Even if your family is spending less than the average, you may still want to look at your dining budget now and then and see how it can be adjusted accordingly.
