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SNAP benefits, food stamps face cuts under GOP tax bill

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People shop at a grocery store in Brooklyn on May 13, 2025 in New York City.

Spencer Platt | Getty Images

As Republicans push forward with the “big, beautiful” tax bill, federal food assistance may see big cuts.

The Supplemental Nutrition Assistance Program, or SNAP, may be cut about 30% under the terms of the bill, which would be the “biggest cut in the program’s history,” according to Ty Jones Cox, vice president for food assistance policy at the Center on Budget and Policy Priorities.

SNAP, formerly known as food stamps, currently provides food assistance to more than 40 million individuals including children, seniors and adults with disabilities.

Yet cuts to the program proposed by the House — which would shrink the program’s funding by about $300 billion through 2034 — would put those benefits at risk.

“The House Republican plan would take away food assistance for millions who struggle to afford the high cost of groceries, including families with children and other vulnerable people with low incomes,” Cox said during a Tuesday webinar hosted by the CBPP, a progressive think tank.

The SNAP reform efforts come amid a broader effort to reduce waste and fraud in government programs. SNAP, like other government benefits, can be susceptible to improper or fraudulent payments.

The “one big, beautiful bill restores integrity to the Supplemental Nutrition Assistance Program,” House Agriculture Committee Chairman Glenn “GT” Thompson, R-Pa., said in a May 14 statement, through “long-overdue accountability incentives to control costs and end executive and state overreach.”

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Many Americans cite high food costs as a top economic concern, according to an April Pew Research Center survey. If new tariff policies are put into effect, that could prompt food prices to go higher.

Moreover, the proposed SNAP cuts come as some experts say the U.S. is facing higher recession risks. In previous downturns, every additional dollar spent on SNAP generates about $1.54 in returns to the economy, according to Elaine Waxman, senior fellow at the Urban Institute’s tax and income support division.

“People spend SNAP dollars right away, and they spend them locally,” Waxman said.

The proposed SNAP cuts would largely happen by expanding work requirements to qualify for benefits and by cutting federal funding for food benefits and administration and leaving it up to states to make up the difference.

Federal cuts would leave states with tough choices

The largest cut to SNAP would come from federal funding cuts to basic SNAP benefits ranging from 5% to 25% starting in 2028, according to CBPP.

It would then be up to states to find ways to make up for that benefit shortfall, which could include making it more difficult to enroll in the program or finding other localized cuts to the program, according to CBPP.

“The change in the bill that is most dramatic is asking states to share part of the benefit cost,” Waxman said. “That’s new; since SNAP was originated, the federal government has always paid the full cost of the benefits.”

Notably, it would also mark the first time in the history of SNAP that the federal government would no longer ensure children in every state have access to food benefits, according to CBPP.

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In addition, the proposal also seeks to make it so states pay a larger portion of the program’s administrative costs.

How states may react to the changes may vary. In worst-case scenarios, some states could even opt out of the program altogether, according to CBPP.

However, Waxman said most states will likely try to protect benefits because they’re “so critical,” even though they are not legally obligated to offer the program.

“The vast majority, if not all, will try to do something,” Waxman said.

In addition to the benefits SNAP provides to individuals and families, it also provides an “integral” part of economies, Waxman said. In lower-income rural areas, for example, rural grocery stores that rely on SNAP customers would see food spending go down.

“It has all these ripples that will hurt a lot of people other than just the people who are on the program,” Waxman said.

Work requirements may cost families $254 per month

House Minority Leader Hakeem Jeffries, D-N.Y., at the House Democrats’ news conference on Medicaid and SNAP cuts proposed by the Republicans’ reconciliation process.

Bill Clark | Cq-roll Call, Inc. | Getty Images

Work requirements for SNAP already make it so certain individuals must work at least 80 hours per month to qualify for the program’s benefits. That includes individuals ages 18 to 54 who are able to work and who have no dependents. Current policy also limits SNAP benefits for certain individuals to three months within a 36-month period unless work requirements are met.

The proposed legislation would expand that those work requirements, according to the Urban Institute, by:

  • extending the requirements to households with children, unless they have a child under age seven;
  • expanding the work requirements and time limits to individuals ages 55 through 64;
  • limiting states’ flexibility to request waivers of the work requirement policies in high unemployment areas; and
  • reducing discretionary exemptions from the time limits that states may provide.

Expanded work requirements would affect 2.7 million families and 5.4 million individuals, according to a new report from the Urban Institute.

That includes 1.5 million families who would lose benefits entirely and 1.2 million families who would receive lower benefits. It also includes 1.8 million people, including 48,000 children, who would lose benefits entirely; and 3.6 million people, including 1.5 million children, who would receive lower benefits, according to the Urban Institute.

Families that lose some or all their benefits would lose $254 per month on average, according to the research. Meanwhile, families with children would lose $229 per month on average, the Urban Institute found.

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$20,000 Caution Bond Requirement for US Visa Applications imposed on 50 Countries

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The United States Department of State has officially implemented a revised visa policy introducing a mandatory posting requirement for caution payments of up to $20,000 on select foreign travel applications. Under the updated regulatory framework, consular officials are authorized to require temporary nonimmigrant visa applicants from targeted foreign countries to post a refundable financial bond of $20,000 as a condition for visa issuance. The policy mechanism is designed to address diplomatic concerns regarding high overstay rates among temporary visitor, business, and educational visa categories.

The caution bond pilot program applies selectively to foreign nationals from designated countries whose diplomatic entities record historical visa overstay rates exceeding established federal thresholds. Under administrative guidelines published by the State Department, the full financial deposit is posted directly to a dedicated federal escrow account prior to final visa issuance. The entire caution payment is automatically refunded to the applicant upon verified proof of timely departure from the United States in strict compliance with the authorized duration of stay. Conversely, failure to depart within the legal timeframe results in full forfeiture of the posted financial bond to the United States government.

Diplomatic representatives and travel policy experts have expressed varying perspectives regarding the operational implementation of the caution bond system. Administration officials emphasize that the measure serves as an effective, market-based incentive to enforce international travel compliance and preserve domestic immigration security standards. However, international trade organizations and foreign diplomatic missions have raised concerns regarding the financial burden imposed on legitimate business travelers, foreign students, and commercial partners from developing nations.

The United States finalized the rule to make the temporary visa bond program permanent, taking effect on August 3, 2026. The updated permanent regulation replaces the prior 12-month pilot, eliminates the lowest $5,000 tier, and raises the maximum required bond amount to $20,000 for specific B-1/B-2 business and tourist visa applicants.

Here is the list of the 50 countries on the list as o August 3, 2026

African Nations (31 Countries)

  • Algeria
  • Angola
  • Benin
  • Botswana
  • Burundi
  • Cabo Verde (Cape Verde)
  • Central African Republic
  • Côte d’Ivoire (Ivory Coast)
  • Djibouti
  • Ethiopia
  • Gabon
  • The Gambia
  • Ghana
  • Guinea
  • Guinea-Bissau
  • Lesotho
  • Malawi
  • Mauritania
  • Mauritius
  • Mozambique
  • Namibia
  • Nigeria
  • São Tomé and Príncipe
  • Senegal
  • Seychelles
  • Tanzania
  • Togo
  • Tunisia
  • Uganda
  • Zambia
  • Zimbabwe

Asian & Eastern European Nations (11 Countries)

  • Bangladesh
  • Bhutan
  • Cambodia
  • Georgia
  • Kyrgyzstan
  • Mongolia
  • Nepal
  • Papua New Guinea
  • Tajikistan
  • Turkmenistan
  • Uzbekistan

Caribbean & Latin American Nations (5 Countries)

  • Antigua and Barbuda
  • Cuba
  • Dominica
  • Grenada
  • Venezuela

Oceanian Nations (3 Countries)

  • Fiji
  • Tonga
  • Vanuatu

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Next-Generation Retirement Planning: Managing Longevity Risk and Variable Income Streams

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Retirement planning strategies are evolving in 2026 to address increased life expectancies, shifting dynamic market conditions, and the transition away from traditional defined-benefit pensions. Individual investors and financial advisors are abandoning rigid retirement models in favor of flexible, multi-asset strategies designed to mitigate longevity risk and preserve purchasing power over multi-decade retirement horizons.

Mitigating Longevity Risk with Dynamic Asset Allocation
As average life expectancies extend past eighty-five years, one of the primary financial risks facing retirees is outliving their accumulated wealth. Traditional fixed income allocations—such as the standard 60/40 equity-to-bond portfolio—are being reevaluated to ensure portfolios generate sufficient capital growth alongside reliable income.

Financial planners recommend maintaining a meaningful equity allocation throughout retirement to offset long-term inflation erosion. High-dividend equity funds, global real estate investment trusts (REITs), and inflation-indexed Treasuries are combined to create diversified portfolios that deliver both growth and income stability.

The Transition to Dynamic Withdrawal Strategies
The classic “4% safe withdrawal rule” is increasingly replaced by dynamic withdrawal strategies that adapt annually based on market performance. Under a dynamic withdrawal framework, retirees adjust their annual distribution rates within pre-set caps and floors:
– Market Upside: During strong market returns, retirees can increase discretionary spending or fund family legacy gifts.
– Market Downturns: During market pullbacks, spending distributions are temporarily reduced to prevent sequence-of-returns risk and preserve core investment principal.

Guaranteed Lifetime Income Options and Deferred Annuities
To establish a guaranteed baseline for essential living expenses, individuals are incorporating modern fixed-indexed and deferred longevity annuities into their broader retirement architectures. Modern annuity structures offer competitive return caps, transparent fee schedules, and inflation-adjustment options.

By funding essential expenses—such as housing, healthcare, and insurance—with guaranteed income streams from Social Security, pensions, and annuities, retirees can manage discretionary investment portfolios with greater flexibility and lower emotional stress during market volatility.

Actionable Steps for Future Retirees
1. Calculate Baseline Retirement Expenses: Determine fixed living costs and map guaranteed income sources to cover essential expenditures.
2. Adopt Flexible Withdrawal Rules: Implement dynamic spending rules to protect investment principal against market downturns.
3. Incorporate Inflation-Protected Assets: Maintain exposure to dividend-growing equities and inflation-indexed bonds to safeguard long-term purchasing power.

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Building Generational Wealth: Family Governance, Estate Tax Optimization, and Asset Protection

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As the largest intergenerational transfer of wealth in history accelerates, high-net-worth families, entrepreneurs, and individual investors are placing heightened emphasis on comprehensive estate planning, family governance, and asset protection. Preserving capital across generations requires a balanced approach combining tax-efficient legal structures with open family communication and financial literacy education.

Optimizing Estate Tax Exemptions and Trust Structures
With potential modifications to federal estate tax exemption thresholds on the horizon, proactive estate planning is essential for high-net-worth households. Estate planning attorneys and wealth advisors are establishing multi-generational trust structures to transfer wealth efficiently while minimizing estate and gift tax exposure.

Popular structural strategies include:
– Irrevocable Life Insurance Trusts (ILITs): Utilizing life insurance proceeds to provide liquidity for estate tax obligations without expanding the taxable estate.
– Grantor Retained Annuity Trusts (GRATs): Transferring rapidly appreciating assets to beneficiaries with minimal gift tax consequences.
– Dynasty Trusts: Preserving wealth across multiple generations while providing long-term asset protection from creditor claims and legal liabilities.

Establishing Family Governance and Financial Education
Legal and financial structures alone cannot guarantee long-term wealth preservation without effective family governance. Financial advisors report that a significant percentage of multi-generational wealth dissipation stems from lack of communication and inadequate financial preparation among heir generations.

Families are establishing formal family governance frameworks, including periodic family meetings, written mission statements, and structured philanthropic foundations. Involving younger family members in charitable grant-making and investment discussions fosters financial stewardship and prepares heirs to manage family assets responsibly.

Digital Asset Custody and Legacy Planning
In today’s modern economy, estate planning must extend beyond physical real estate and traditional brokerage accounts to encompass digital assets. Comprehensive estate plans now include detailed inventories and legal access protocols for corporate domain names, intellectual property, digital media rights, and cryptocurrency holdings.

Fiduciaries and estate executors should be provided with secure, encrypted access mechanisms and clear legal authority to manage and transfer digital holdings in accordance with the owner’s estate directions.

Practical Steps for Legacy Planning
1. Review and Update Estate Documents: Ensure wills, revocable trusts, and power-of-attorney designations accurately reflect current family structures.
2. Establish Structured Trusts: Utilize irrevocable trusts to protect assets from creditors and minimize future estate tax liabilities.
3. Create a Digital Estate Inventory: Document access protocols and legal permissions for all online accounts, intellectual property, and digital assets.

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