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Each year, the US government calculates new maximum benefits for food stamp (Supplemental Nutrition Assistance Program, or SNAP) recipients based on inflation.
SNAP Benefits: How Long Do They Last?
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The new Cost of Living Adjustment (COLA) takes effect on October 1st of each year and is valid through the following year. For 2023, the USDA Food and Nutrition Service increased quotas for 48 states plus Washington, DC, Alaska, Hawaii, Guam, and the U.S. Virgin Islands. Caps and resource limits have also been increased to reflect inflation.
So what are the biggest benefits of SNAP EBT in 2023?
According to the USDA website, the maximum SNAP quota for a family of four has been increased to:
The shelter cap value, the amount a SNAP recipient can deduct from their income to determine SNAP benefits, also rose by $27 in the contiguous 48 states, to a maximum of $624, and DC’s largest shelter elsewhere. The deductible has increased as follows: :
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Alaska: $996
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Hawaii: $840
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Guam: $732
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Virgin Islands: $492
Poll: Are you in favor of further easing inflation in 2023?
The wealth limit was raised to $4,250 for households with at least one family member aged 60 or older or with a disability, and $2,750 for all other households. If your household income fluctuates by more than $125 per month, you must report the fluctuation.
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This article originally appeared on GOBankingRates.com: Food Stamps: What Are the Maximum SNAP EBT Benefits for 2023?
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