Food stamps help millions of Americans feed themselves and their families, but they also help major companies boost their bottom lines.
Kraft’s incoming CEO Tony Vernon said as much when he told the Financial Times on Sunday that he opposes cuts to the food stamp program or the Supplemental Nutrition Assistance Program (SNAP for short). Vernon said food stamp buys make up one-sixth of Kraft's revenue and a bigger share of the company’s total sales.
But Kraft isn’t the only company that’s a fan of food stamps, Walmart, Coca-Cola and other big brands have lobbied surrounding the issue, according to a June 2012 report from advocacy group Eat Drink Politics called "Food Stamps: Follow the Money."
And there’s lots of money to be made off food stamps, with use of the benefits at an all-time high thanks to the weak economy, according to the Department of Agriculture. Food stamp use has surged 51 percent since October 2008.
Here are 9 big companies that <3 food stamps:
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