Millions of Americans are asking if there will be an increase in Supplemental Nutrition Assistance Program (SNAP) benefits next year.
Will SNAP benefits increase next year? (Photo: CNET)
SNAP 2023
Prices of basic necessities continue to increase due to the higher inflation rate and millions of Americans across the country struggle to meet their daily needs. With this, their purchasing power has decreased and many families rely on SNAP benefits.
The good news is there will be an increase in SNAP benefits. In 2023, the amount of food stamps available to eligible one-person households will increase from $250 to $281. Households with two people will receive $516 instead of $459, and those with three people will receive $740, which is over $90 more than what they earned last year ($658).
It is important to note that the EBT cards can be used to buy a variety of food items, including seeds and plants that grow food, as well as fruits, vegetables, meat, chicken, fish, dairy products, breads, cereals, snack foods, and non-alcoholic drinks.
Why the SNAP Benefits is Adjusted?
For fiscal year 2023, recipients will receive a 12.5 percent cost-of-living adjustment (COLA), with SNAP payments increasing yearly to account for inflation. COLA will begin on October 1, 2022, and will end on September 30, 2023.
The U.S. Department of Agriculture posted on its website “The Thrifty Food Plan (TFP) calculates the cost of a market basket for a family of four. TFP is an estimate by the U.S. Department of Agriculture of how much it costs to provide nutritious, low-cost meals for a household. Maximum allotments are calculated from this cost every June.”
They agency added “The calculation takes economies of scale into account. Smaller households get slightly more per person than the four-person household. Households larger than four people get slightly less per person. Income eligibility standards are set by law. Gross monthly income limits are set at 130 percent of the poverty level for the household size.”
