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Friday, February 3, 2017

SNAP SPENDING WILL CONTINUE TO FALL


Spending on SNAP will continue to fall as the economy recovers and the number of SNAP participants falls, the Congressional Budget Office (CBO) recently reported in updated spending projections. CBO’s estimate of SNAP spending over the next 10 years, based on the SNAP rules now in place, is about 7% lower than its forecast from a year ago, mainly due to lower food prices. And, as the overall economy grows,  SNAP’s share of the gross domestic product will drop under 0.3%, down from a high of 0.5% in 2015.

Source: Center for Budget & Policy Priorities, 1/27/17, SNAP Spending to Drop