The $3.8 trillion budget for fiscal 2014 President Obama unveiled on Wednesday aims to slash the deficit by $1.8 trillion over 10 years, raise taxes on the wealthy and trim popular benefit programs, including Social Security and Medicare. But it does not cut SNAP, which is expected to cost around $80 billion in the 2014 budget year. In fact, he proposes to restore a cut to monthly benefits that is scheduled to take place this November. Costs for the program have more than doubled during Obama's presidency, driven by an ailing economy. The budget says the Obama administration strongly supports the current program "at a time of continued need." The budget also:
▪ Supports continued implementation of the Healthy, Hunger-Free Kids Act.
▪ Provides increased funding to support the 8.9 million people expected to participate in the WIC program.
▪ Extends permanently improvements in the Child Tax Credit and the Earned Income Tax Credit that were passed in 2009 and continued as part of the January “fiscal cliff” legislation, providing greater income support for low-income working households.
▪ Provides $3 billion for the Low Income Home Energy Assistance Program (LIHEAP), an increase of $450 million from last year’s request to reflect the rising cost of heating oil.
▪ Addresses food deserts and the lack of healthy, affordable food in communities by providing financing to community development financial institutions, nonprofits, businesses, and public agencies with strategies to address this gap.
Source: Politico, 4/10/13, Obama Budget; Food Research and Action Council, 4/10/13, Obama Budget 2
No comments:
Post a Comment