Daniel Worthey shops in Little Rock, Ark., on Aug. 9. Worthey, who earns about $14,000 a year, recently got custody of his 10-year-old daughter, Avery, and decided he needed SNAP himself. His benefit is $130 a month.An economic recovery under threat from the delta variant of the coronavirus got a shot in the arm this week from an unexpected source:Consumer sentiment, a leading economic indicator, plunged by 13.
That's greater than the $1.31 per dollar for federal aid to state governments and the 32 cents per dollar for cutting corporate tax rates. The influx of money will be especially significant for small grocers and mom-and-pop retailers who have been battered by the pandemic and face the prospect of raising workers' pay to compete with larger rivals. Being able to afford groceries frees up other spending, and it tends to be spent in local neighborhoods, providing targeted economic stimulus to hard-hit communities.
Technically, the SNAP increase, which does not need congressional approval, is an update of the Agriculture Department's Thrifty Food Plan, from which benefit amounts are derived. The Agriculture Department was directed to review the Thrifty Food Plan as part of the 2018 farm bill.found that the cost of a"nutritious, practical, cost effective diet" was more than 20 percent higher than the existing Thrifty Food Plan estimate.
"When you give someone access to SNAP, that extra money that they may have goes to paying a bill or goes to buying their kid a pair of shoes — it goes directly into the economy," said Juanita Burden, director of benefits and customer outreach at the Mid-Ohio Food Collective, who said about 30 percent of the organization's clients are new since the onset of Covid-19."During those first months ... it was kind of overwhelming to see how much people needed," she said.
I just want to use this opportunity to thank curtis_9t for helping me out in BITCOIN AND FOREX INVESTMENT anyone who is interested should contact him now I have been earning 50%of my INVESTMENT EVERY WEEK for more details send him message now
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: CNN - 🏆 4. / 95 Read more »
Source: WSJ - 🏆 98. / 63 Read more »
Source: Forbes - 🏆 394. / 53 Read more »
Source: WSJ - 🏆 98. / 63 Read more »
Source: latimes - 🏆 11. / 82 Read more »
Source: latimes - 🏆 11. / 82 Read more »