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Business & Economy
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Business & Economy
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SNAP funds days away from running dry amid shutdown
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Millions of people across the country could see their Supplemental Nutrition Assistance Program (SNAP) assistance dry up during the government shutdown amid a fight between the Trump administration and Democrats.
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The U.S. Department of Agriculture (USDA) released guidance Friday saying it won’t use the SNAP contingency funding, which Congress has allocated for emergency scenarios, if the shutdown extends beyond Friday.
Democrats blasted the move, which appears designed to maximize the pressure on ending the shutdown.
“It is a disgusting dereliction of duty that the Trump administration would knowingly rip food out of the mouths of 42 million children, seniors and veterans,” House Minority Leader Hakeem Jeffries (D-N.Y.) said in a statement criticizing the decision not to tap the reserve.
SNAP provided benefits to about 41.7 million Americans in fiscal 2024, according to a monthly average calculated by the USDA. That year, the government spent $99.8 billion on SNAP, a monthly average of $187.20 per participant.
Read more here.
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Welcome to The Hill’s Business & Economy newsletter, I’m Sylvan Lane — covering the intersection of Wall Street and Pennsylvania Avenue.
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Key business and economic news with implications this week and beyond:
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The anonymous donor who gave the Defense Department $130 million to partially cover the salaries of military personnel amid the government shutdown was identified as billionaire Timothy Mellon, The New York Times reported.
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Marc Short, who served as chief of staff to former Vice President Mike Pence, said Sunday that President Trump’s response to a Canadian advertisement featuring former President Reagan shows an “upside-down world.”
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Anthropic has been a rare voice within the artificial intelligence (AI) industry cautioning about the downsides of the technology it develops and supporting regulation — a stance that has recently drawn the ire of the Trump administration and its allies in Silicon Valley.
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With food assistance benefits set to run out starting Saturday, DoorDash has launched what it calls an “emergency food response” to help people in need.
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Upcoming news themes and events we’re watching:
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The Federal Open Market Committee (FOMC) begins its two-day meeting in Washington, D.C., on Tuesday.
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Branch out with more stories from the day:
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NEW YORK (AP) — Stocks climbed to more records on Monday ahead of a week packed with potentially market-moving …
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Business and economic news we’ve flagged from other outlets:
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Tesla risks losing Musk if $1 trillion pay package isn’t approved, board chair says (CNBC)
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Apple and Microsoft are racing to join Nvidia in an elite club (MarketWatch)
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Opinions related to business and economic issues submitted to The Hill:
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You’re all caught up. See you tomorrow!
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