SNAP cuts could impact spending: Fitch

Fitch Ratings, New York, said Friday reductions in Supplemental Nutrition Assistance Program (SNAP) payments may have a negative impact on food companies once the Agriculture Act of 2014 becomes law.

Under the Farm Bill, SNAP benefits  — which amounted to approximately $76 billion in 2013 — will be cut by $8.6 billion over the next 10 years.

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