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The checkout in Publix. (Photo: Jeffrey Greenberg/UIG via Getty Images)

Grocery retailers around the country have growing concerns about President Trump's plan to reduce food-stamp spending by $130 billion over the next decade, reports the Wall Street Journal. That would amount to a 20% reduction in the program's $63 billion annual budget.

Why it matters: Retailers are already facing stiff competition from grocers like Whole Foods with Amazon's backing. Now, they may lose sales from low-income consumers because of regulation.

The changes:

  • More stringent requirements would reduce the number of consumers who are eligible for the food-stamp program.
  • Rather than receiving benefits on cards, food stamp users would receive benefits in boxes of cereal, beans, canned fruits and other government purchased food through wholesale channels.

Industry concerns:

  • The food industry operates on a 1% profit margin, Alex Baloga, chief executive of the Pennsylvania Food Merchants Association, told the journal. Any SNAP loss could be devastating to the industry.
  • The nation's biggest retailers would lose key revenue sources.
  • Purchases at big box stores like Walmart and Target accounted for 52% of dollars spent through SNAP in 2017.

Go deeper

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Health: Nursing homes are still getting pummeledU.S. could hit herd immunity by end of summer 2021 if Americans embrace virus vaccines, Fauci says.
  2. Politics: Pelosi, Schumer call on McConnell to adopt bipartisan $900B stimulus framework.
  3. World: U.K. clears Pfizer-BioNTech vaccine for mass rollout — Putin says Russia will begin large-scale vaccination next week.
  4. Business: Investors are finally starting to take their money out of safe-haven Treasuries.
  5. Sports: The end of COVID’s grip on sports may be in sight.

Pelosi, Schumer call on McConnell to adopt bipartisan $900B stimulus framework

House Speaker Nancy Pelosi on Nov. 20. Photo: Drew Angerer/Getty Images

House Speaker Nancy Pelosi (D-Calif.) and Senate Minority Leader Chuck Schumer (D-N.Y.) on Wednesday urged Senate Majority Leader Mitch McConnell (R-Ky.) to use a $908 billion bipartisan coronavirus relief framework as a basis for jumpstarting negotiations.

Why it matters: The framework, introduced by a group of bipartisan senators on Tuesday, calls for significantly less funding than Pelosi had previously demanded — a sign that Democrats are ready to further compromise as millions of Americans endure economic hardship.

Scoop: Uber in talks to sell air taxi business to Joby

Illustration: Sarah Grillo/Axios

Uber is in advanced talks to sell its Uber Elevate unit to Joby Aviation, Axios has learned from multiple sources. A deal could be announced later this month.

Between the lines: Uber Elevate was formed to develop a network of self-driving air taxis, but to date has been most notable for its annual conference devoted to the nascent industry.