“This is not something new, this go round. Rosa DeLauro (Conn.), the top Democrat on the House Appropriations committee who’s had a series of budget talks with her Republican counterparts, noted this is a perennial fight. Jim McGovern, one of the biggest anti-hunger advocates in the House. “These guys talk about states’ rights all the time, except when it comes to poor people,” said Rep. Rick Scott (R-Fla.) reintroduced a bill in January that would raise the age for food assistance work requirements by a decade to 59.ĭemocrats, however, note the majority of people who receive SNAP benefits are already working and, at the moment, are grappling with surging food prices, a challenge exacerbated by the end of a pandemic-era increase in aid. Other GOP lawmakers are now pressing for similar work requirements to be part of any deal on the debt limit between the White House and the House GOP. Johnson hopes his proposal will be folded into the upcoming farm bill, which lawmakers will draft later this year, but it will face stiff resistance in the Democrat-controlled Senate.

“We know that work is the only path out of poverty,” said Johnson, a member of the House Agriculture Committee whose family received SNAP benefits when he was a child growing up in Pierre, South Dakota. Perhaps more concerning, the company highlighted increased competition for advertising dollars, and we think SNAP may have been displaced by TikTok as the experimental platform of choice (which has become the 3rd platform behind META and GOOGL) and is now less able to garner outsized share of these incremental spending budgets as demand trends normalize.Supporters say enhancing work requirements as outlined in Johnson’s proposal is key to reducing cycles of perpetual poverty, and it will also save taxpayers money. 'Our concerns are as follows: 1) As the overall demand environment slows, SNAP's ability to grow has contracted as incremental (and experimental) budgets have decreased. 'We found incremental concerns that temper our enthusiasm around the company's near- to mid-term growth prospects, and we are therefore downgrading SNAP to hold,' Deutsche Bank Analyst Benjamin Black wrote in a note to clients. In total, 12 Wall Street firms slashed their ratings on Snap shares today in a show of concern over future growth. at New York Stock Exchange in New York, the United States on March 2, 2017.

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