Proposed SNAP Sanctions in Missouri SB 4 Would Cost Missouri, Harm Families
February 7, 2019
In addition to causing nearly 40,000 Missouri families to lose critical food assistance, Senate Bill 4 would cost Missouri $90 million or more to provide work supports required by law.
- Missouri’s current employment & training program serves just a small fraction of the people the state would be required to serve under SB 4, increasing costs by about $72 million.
- While the Department of Social Services has testified that TANF funding could be used to meet increased need, there is insufficient funding to cover the projected cost.
- Moreover, that funding cannot be used for all participants, and does not cover additional supports such as child care, which would add another $18 million or more each month to the cost of support services.
Financial watchdog to gut most of its payday lending rules
February 6, 2019
The nation’s federal financial watchdog said Wednesday that it plans to abolish most of its critical consumer protections governing payday lenders….The cornerstone of the regulations was a requirement that lenders make sure borrowers could afford to repay a payday loan without being stuck in a cycle of debt, a standard known as “ability to repay.” This standard would be eliminated under the new rules. Another part of the rules, which would have limited the number of payday loans a person could roll over, was also eliminated.
Senate Rejects Curbs on Food Stamps, Passes Compromise Farm Bill
Dec. 11, 2018
The Senate easily passed a sprawling farm bill, 87 to 13, on Tuesday, advancing an ambitious $867 billion measure that rejected stricter work requirements for food-stamp recipients that were pushed by House Republicans and cheered by President Trump
Legislators Reviving Efforts to Enact Right To Work law
December 6, 2018
In August of 2018 voters in Missouri by an overwhelming margin said they did not want the state to have so-called ‘Right to Work’ legislation on the books. But legislation prefiled for the 2019 session would would “ban employers from requiring employees to become, remain or refrain from joining a labor organization or paying dues as a condition of employment.” Read more
When Children Grow Up Poor, the Nation Pays a Price
April 16, 2018
Washington University Professor Mark Rank (who spoke at our program on Shrinking Middle Class) says in a New York Times commentary that “investing in programs that reduce childhood poverty is both smart and efficient economic policy.” Read the op-ed here
Consumer Financial Protecting Bureau Drops Suit Against Payday Lender
Feb. 12, 2018
The CFPB “dropped a lawsuit against an alleged online loan shark called Golden Valley Lending. The suit says the lender illegally charges people up to 950 percent interest rates. It took CFPB staffers years to build the case….had the lawsuit been pursued and the CFPB won, it could have clawed back money to help thousands of people who’ve allegedly been hurt by the lender.” Read more here