A federal program that provides food assistance to more than 40 million Americans has been scaled back. The Congressional Budget Office estimates 2.4 million fewer people will now qualify for the Supplemental Nutrition Assistance Program, or SNAP, under President Trump's tax and spending plan.

Washington

The Supplemental Nutrition Assistance Program (SNAP), which provides food assistance to over 40 million Americans, has undergone significant changes following the passage of President Trump's tax and spending plan. The Congressional Budget Office estimates that 2.4 million fewer people will now qualify for SNAP due to new work requirements and the removal of certain exemptions, including for some parents and non-disabled adults up to age 64.

Families across all states are expected to lose between $72 and $231 per month in benefits, a substantial reduction for those relying on SNAP for their grocery budgets. Food banks are preparing for increased demand, and major retailers may see decreased revenue from SNAP spending, though some, like Walmart, could benefit as consumers seek deeper discounts. Independent grocers may struggle to compete with larger chains on pricing as a result of these changes.

What food stamp changes mean for low-income Americans

A federal program dating back to the New Deal that provides food assistance to more than 40 million Americans has been cut. The Congressional Budget Office estimates that 2.4 million fewer people will now qualify for the Supplemental Nutrition Assistance Program, or SNAP. This is under President Trump's tax and spending plan that passed in July. Here to discuss is CBS's senior business and technology correspondent, Jolene Kent. So Jolene, let's start with, what are some of the new rules and what's changed with the SNAP program since this legislation passed? John, we're gonna start to see these changes rolled out over the next couple of years. New work requirements went into effect on Labor Day. And the biggest change is that non-disabled adults without independence have to fulfill a work requirement until the age of 64. That's 10 years longer than the current 54-year age requirement. And we've also seen some exemptions also removed for some parents. So as we zoom out that 2.4 million figure that you cited, those people will lose their SNAP benefits according to the CBO, and that's an estimate. And that includes hundreds of thousands of families with kids. And families across all 50 states could lose an estimated $72 to $231 a month. And if you think about that, that's a major hit when it comes to your weekly grocery budget. Multiple food banks in the metro areas across the U.S. are also, they're bracing for an increase in need. We're gonna see a double whammy when it comes to cuts in SNAP benefits, plus food prices continuing to remain high with inflation so stubborn, John. And what happens then to the stores that give service to these customers? Yeah, John, we expect to see both a positive and negative impact on the big box retailers. Overall, you could see spending go down because of the SNAP cuts. Last year, Americans were deemed about $61 billion in SNAP benefits, and half of that amount was estimated to have been spent at Walmart, Kroger, Costco, Target, and other major retailers. So with these cuts, you could see that revenue that these companies typically bring in take a hit. But at the same time, some of those retailers like Walmart in particular may benefit because customers with SNAP benefits who are really trying to stretch their dollars even more with these cuts and reductions, they will actually look for more deeper discounts, something that Walmart and other major retailers can afford to offer. You compare that to independent grocers in your neighborhood, those smaller businesses, they can't afford to cut prices as aggressively, John.

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