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President Obama Signs $8.7 Billion Food Stamp Cut Into Law
On Friday, President Obama added his signature to legislation that will cut $8.7 billion in food stamp benefits over the next 10 years, causing 850,000 households to lose an average of $90 per month. The signing of the legislation known as the 2014 Farm Bill occurred at a public event in East Lansing, Mich.
The food stamp cuts are one component of a massive omnibus bill which also includes billions of dollars in crop insurance and various other programs and subsidies involving American agriculture. Before he signed the legislation, President Obama praised it as an example of bipartisan problem-solving that would help create jobs and move the American economy forward.
“Congress passed a bipartisan Farm Bill that is going to make a big difference in communities across the country,” said the president.
Obama’s remarks also focused heavily on economic inequality, which he has previously called “the defining challenge of our time.” The Farm Bill, he said, would “give more Americans a shot at opportunity.”
When House Republicans originally argued for a food stamp cut of between $20.5 billion and $39 billion, the White House threatened to veto both of those proposals. During his Friday speech, the president did not say whether he was satisfied with the final $8.7 billion figure, or even mention the cuts at all. Instead, he praised the food stamp program and said that the final Farm Bill preserved much-needed benefits.
Read the full story: www.msnbc.com
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