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Millennials say they’ll refuse to care for aging boomer parents—but they’ll be forced to as their inheritance shrinks to 40 cents on the dollar

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The rise of 'conspicuous waiting': The 19th-century economic theory that explains why Gen Z posts their place in line

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Millennials say they’ll refuse to care for aging boomer parents—but they’ll be forced to as their inheritance shrinks to 40 cents on the dollar

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The rise of 'conspicuous waiting': The 19th-century economic theory that explains why Gen Z posts their place in line

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Jensen Huang says ‘a lot’ of six-figure jobs in plumbing and construction will soon be unlocked because someone needs to build new AI centers
PoliticsSNAP

Trump celebrates 2.4 million Americans ‘lifted’ off SNAP benefits after his tax-cut law slashed funding and tightened work requirements

Jason Ma
By
Jason Ma
Jason Ma
Weekend Editor
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Jason Ma
By
Jason Ma
Jason Ma
Weekend Editor
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February 24, 2026, 10:07 PM ET
President Donald Trump delivers the State of the Union address in the House Chamber of the U.S. Capitol, Feb. 24, 2026.
President Donald Trump delivers the State of the Union address in the House Chamber of the U.S. Capitol, Feb. 24, 2026. ANDREW CABALLERO-REYNOLDS—AFP/Getty Images
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President Donald Trump recounted a list of accomplishments in the first year of his second term Tuesday night, including millions fewer Americans on a food-assistance program that he cut.

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During the State of the Union address, he pointed to the stock market at record highs, investment commitments from around the world, the creation of tens of thousands of construction jobs, and increased domestic oil production.

“We cut a record number of job-killing regulations, and in one year we have lifted 2.4 million Americans, a record, off of food stamps,” Trump added. “And for all of these reasons I say tonight, members of Congress, the state of our union is strong.”

Trump’s One Big Beautiful Bill Act slashed $186 billion from the Supplemental Nutrition Assistance Program, previously known as food stamps, over 10 years.

That amounts to a 20% reduction, marking the largest cut in the program’s history, according to the Harvard Kennedy School.

The tax-and-spending law also tightened work requirements on SNAP recipients, subjecting adults between the ages of 55 and 64 as well as adults with children over the age of 14 to the rules for the first time. They must work at least 20 hours a week, otherwise they will only get SNAP for a maximum of three months over three years.

Previously, only able-bodied adults without dependents ages 18 to 54 had to meet those requirements. Meanwhile, the stricter rules also entail more paperwork, such as submitting monthly documentation to agencies, the Kennedy School pointed out.

At the same time, the OBBBA extended tax cuts from this first term and added new cuts for the wealthy and corporations as well as for seniors, tip earners, and workers with overtime hours.

As Americans continue to grapple with an affordability crisis, including higher costs for food, Trump’s boast about fewer SNAP recipients didn’t go over well with his critics.

“President Trump’s big, ugly bill did NOTHING to help working people or make life more affordable,” the AFL-CIO posted on X. “It cut Medicaid, SNAP food assistance, and our essential services to give tax breaks to billionaires and giant corporations. Tax cuts for the wealthy never lowered anyone’s rent.”

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Jason Ma
By Jason MaWeekend Editor

Jason Ma is the weekend editor at Fortune, where he covers markets, the economy, finance, and housing.

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