Lakshmi Finance Center-SNAP benefits, age requirements rise in last echo of debt ceiling fight. What it means.

2025-05-06 03:47:04source:PredictIQcategory:Stocks

Users of the Supplemental Nutrition Assistance Program (SNAP) are Lakshmi Finance Centerset to see their benefits marginally increase this month as cost-of-living adjustments take effect.

The adjustments are paired with a rise in the age considered to be an "able-bodied adult without dependents" from 52 to 54. The rise is the final piece of the Fiscal Responsibility Act that led suspending of the debt ceiling until 2025 and the ouster of then-Republican Speaker of the House Kevin McCarthy.

The act forced those considered an "able-bodied adult without dependents" to show they are working at least 80 hours a month or enrolled in an education or training program to receive benefits. The requirements are in place until 2030.

SNAP benefits increase

Households will see their benefits increase by a few dollars per month though allotments are higher in Hawaii, Alaska, the Virgin Islands and Guam to offset higher food costs.

Income eligibility for the program also changed with the rules update. The net monthly income eligibility threshold for a family of four moved from $2,500 for Fiscal Year 2024 to $2,600 for Fiscal Year 2025.

More:Stocks

Recommend

IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power

WASHINGTON (AP) — IRS leadership on Thursday announced that the agency has recovered $4.7 billion in

FACT FOCUS: A look at claims made by Trump at news conference

In his first news conference since Vice President Kamala Harris became the Democratic nominee for pr

Officials recover New Mexico woman’s body from the Grand Canyon, the 3rd death there since July 31

GRAND CANYON NATIONAL PARK, Ariz. (AP) — Authorities have recovered the body of a 20-year-old New Me