Latest news with #KAMILKRZACZYNSKI
Newsweek
27-05-2025
- Politics
- Newsweek
SNAP Benefit Cut Warning Issued in State Trump Won by 1%
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Proposed federal changes to the Supplemental Nutrition Assistance Program (SNAP) will "drive Wisconsinites into hunger" and harm the state's economy, according to new analysis. The Wisconsin Department of Health Services (DHS) said the state would lose some $314 million in food assistance from the federal government under the "One Big Beautiful Bill Act," which passed the House of Representatives last week. The budget legislation exceeds 1,000 pages and contains some of the most significant changes to SNAP eligibility and benefits in recent years. Some $300 billion is earmarked to be cut from the nationwide anti-poverty program. Wisconsin, which President Donald Trump won in the 2024 presidential election by less than one percent, has swung in recent elections between Republican and Democrat. All six of Wisconsin's Republican representatives voted for the bill, while the state's two Democratic House members voted against. President Donald Trump speaking at a town hall event in La Crosse, Wisconsin, in August last year. President Donald Trump speaking at a town hall event in La Crosse, Wisconsin, in August last year. KAMIL KRZACZYNSKI/GETTY/AFP Why It Matters SNAP provides benefits for low- and no-income households across the country. In Wisconsin, more than 700,000 people rely on food stamp payments to buy groceries. Benefits are funded by the federal government and administered by state and local governments. The legislation, which is now being considered in the Senate, includes demands for increased state financial participation, expanded work requirements, and restricted exemptions for some families. What To Know In its analysis, the Wisconsin DHS said that shifting some of the benefit costs to the state would cost it more than $200 million per year. Under the bill, states would begin paying at least five percent of food benefit costs in the fiscal year 2028, which could reach up to 25 percent if they have high erroneous payment rates. "Wisconsin has one of the lowest payment error rates in the nation, but DHS estimates this provision would require Wisconsin to pay 15 percent of benefit costs," the report states. "In combination with other proposals changing how error rates are measured, Wisconsin would be on the hook for $207 million annually." Implementing new work requirements, which would mandate able-bodied beneficiaries without dependents to demonstrate 80 hours of paid or voluntary work per month, would cost Wisconsin $44 million per year. The DHS estimates that some 90,000 people would lose access to their benefits if the cuts are enacted. The GOP In Wisconsin Despite Trump's narrow election win in Wisconsin last year, there are some indicators that the tide is turning in the state. Earlier this year, Democrat-backed county judge Susan Crawford was elected to Wisconsin's Supreme Court, despite Trump and Elon Musk both giving their backing to her opponent Brad Schimel. Meanwhile, Wisconsin Representative Derrick Van Orden, a Republican, who has previously said he opposes any cuts to the SNAP program, voted in favor of the GOP budget last week. He said the bill would restore "integrity in the SNAP program by holding states accountable for their error rates and ensuring benefits are directed to those who need it most." What People Are Saying Bill Hanna, Medicaid director at Wisconsin DHS said last week: "There's going to be more demand to put state money into a program that has been 100 percent federally funded for really its entire existence, which will strain the state's ability to put its state dollars towards other things like education, our health care system and other important aspects of what we do with our state dollars." The Center on Budget and Policy Priorities, a left-leaning think tank, reported in March: "Mandating that states pay even a small share of SNAP food benefit costs would hit state budgets hard at a time when many states are facing revenue downturns. States are not in a position to absorb these substantial additional costs. In fiscal year 2024, tax revenue fell in 40 states after adjusting for inflation, and many states are projecting budget shortfalls in the short and long term." Republican Wisconsin Representative Van Orden said on the passage of the budget bill: "As the Democrats spent time fearmongering with lies that this bill will cut benefits, Republicans got the job done by delivering tax savings and benefit protections for the American people." Trump told reporters last week: "The cut is going to give everybody much more food because prices are coming way down, groceries are down." What Happens Next The "One Big Beautiful Bill Act" will now advance to the Senate, where further negotiations and possible amendments are expected before any changes to SNAP or other programs become law.
Forbes
04-04-2025
- Business
- Forbes
Target's Foot Traffic Declines For 8th Week Since DEI Boycott. Tariffs Likely Won't Help, As Stock Hits 52 Week Low.
A man shops at a Target store in Chicago on November 26, 2024, ahead of the Black Friday shopping ... More day. (Photo by KAMIL KRZACZYNSKI / AFP) (Photo by KAMIL KRZACZYNSKI/AFP via Getty Images) For the eighth consecutive week, foot traffic at Target stores has declined, marking a troubling trend that began shortly after the company announced shifts to their diversity, equity and inclusion (DEI) program in late January. Now come the tariffs. I recently asked 'Do Boycotts Still Work?.' If you look strictly at foot traffic, the answer is yes. According to data from foot traffic in Target stores for the week beginning March 17 fell 5.7% year-over-year, following an average weekly decline of 6.2% over the past eight weeks. Target's decision to amend its DEI program signaled a shift that the brand would be changing its investment and priority in diversity efforts, which the company has been vocal about in the past, particularly around Black-owned businesses, where it committed to $2 billion in spend. They built their brand on being inclusive and diverse. Pivoting became a risk, and soon thereafter, a movement began growing on social media, calling for an economic blackout day on February 28 against Target, alongside other retailers who made similar DEI changes. On that day, Target's website traffic was down 9% compared with the same period last year. In the background, Pastor Jamal Bryant launched calling on 100,000 conscientious citizens to fast from spending any money at Target for the 40 days of Lent, beginning Wednesday, March 5, and concluding on April 20 (Easter Sunday). Today, over 150,000 participants have stepped up, far surpassing the participation goal. This slump in foot traffic coincides with the timing of the 40-day 'fast.' STONECREST, GEORGIA - OCTOBER 22: Pastor Jamal Bryant at New Birth Missionary Baptist Church on ... More October 22, 2024 in Stonecrest, Georgia. (Photo by) Pastor Bryant also asked individuals to sell any Target stock they may own. And while there is no way to correlate directly, Target's stock price (NYSE: TGT) is down 24%—from 137.40 on January 24, the day Target cut its programs—to 104.70 on March 15. Within that time frame, the stock is down 10% from when the 40-day kickoff began on March 5, accelerating an ongoing downward trend in its stock price since late 2024. As if Target's challenges weren't enough, the company now faces a new potential headwind: tariffs. On April 3, the stock hit $93.00—a 52-week low—on the day after the President Trump's 'Liberation Day' tariff announcement. The recently announced tariff rates hit Wall Street hard, sparking concerns about the impact on global supply chains and retail prices. For retailers like Target, which rely heavily on imported goods, these tariffs could exacerbate existing challenges. Higher import costs may force the company to raise prices, further alienating price-sensitive consumers already grappling with inflationary pressures. This could create a vicious cycle, where declining foot traffic leads to lower sales, which in turn makes it harder for the company to absorb higher costs. The timing of these tariffs is particularly problematic for Target, as it struggles to regain its footing. TOPSHOT - US President Donald Trump holds a chart as he delivers remarks on reciprocal tariffs ... More during an event in the Rose Garden entitled "Make America Wealthy Again" at the White House in Washington, DC, on April 2, 2025. Trump geared up to unveil sweeping new "Liberation Day" tariffs in a move that threatens to ignite a devastating global trade war. Key US trading partners including the European Union and Britain said they were preparing their responses to Trump's escalation, as nervous markets fell in Europe and America. (Photo by Brendan SMIALOWSKI / AFP) (Photo by BRENDAN SMIALOWSKI/AFP via Getty Images) While the company has yet to comment on how it plans to address these challenges, it's clear that the road ahead will be anything but smooth. Target showed optimism during its March 4 earnings call, where executives highlighted their Easter assortment as a potential sales driver. The question now is whether Target's annual sale week, called Circle Week, with offers ranging up to 40% off items from March 23 to 29 in store and online can reverse the tide—or whether the damage to its brand reputation is more enduring. Target's current status offers a valuable lesson in navigating the complex intersection of business and politics, which is underscoring the importance of consistency. Adjusting a company's DEI program may seem like an easy way to appease certain stakeholders in lieu of others, but the long-term consequences can be the questioning of consumer trust and loyalty. Loyal customers are the goal of great business. Loyalty drives repeat purchases, reduces marketing costs, provides valuable feedback and contributes heavily to a brand's overall resilience and growth. These metrics matter. In this time of VUCA (volatility, uncertainty, complexity and ambiguity), companies must be willing to stand by their principles, even when it's difficult. This is not only investing in their brand value but also serving as a bridge to continue to maintain and earn the trust and loyalty of their customers, both current and new.
