$1.3 billion plan to reduce cost of living

Israeli PM, Naftali Bennett, unveiled a $1.3 billion plan aimed at reducing Israel’s extremely high cost of living. The plan includes tax cuts for working families, child-care subsidies, and regulation to stimulate price-cutting competition for products. The plan also includes reduced cost of state-provided electricity and the elimination of customs fees on many food imports. The proposed plan will save the average Israeli family around 10,488 shekels ($3,270) per year. While this will be very helpful for most, Israelis still grapple with paying a crippling 17% VAT on everyday items, from food to clothing to eating out. Please continue to pray for wisdom for Israeli leaders as they seek solutions for lowering Israel’s high cost of living. Please also pray that this plan will indeed help so many hurting families to get back on their feet.

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