Child Poverty Rate , Fell by Nearly 50% in 2021.
CNN reports that according to Census Bureau data released on Sept.
13, the number of children in poverty fell dramatically last year.
CNN reports that according to Census Bureau data released on Sept.
13, the number of children in poverty fell dramatically last year.
The cause is mainly due to an enhanced child tax credit.
CNN reports that compared to a child poverty rate of 9.7% in 2020, only 5.2% of children were in poverty in 2021.
Without the tax credit, the percentage of children in poverty would have only dropped to 9.2%.
The overall supplemental poverty rate for 2021 was 7.8%.
However, the enhanced tax credit was only for 2021, so the reduced poverty rate is not likely to hold.
.
CNN reports lawmakers aren't expected to extend the enhanced child tax credit.
The Center on Poverty & Social Policy at Columbia University , reports that the end of the boosted tax credit in January caused 3.7 million more kids to fall into poverty that month.
Though there were more jobs in 2022, families were certainly more squeezed by rising prices.
And so the disappearance of this child tax credit would have hurt more, Elise Gould, senior economist at the left-leaning Economic Policy Institute, via CNN.
Though there were more jobs in 2022, families were certainly more squeezed by rising prices.
And so the disappearance of this child tax credit would have hurt more, Elise Gould, senior economist at the left-leaning Economic Policy Institute, via CNN.
The 2021 median household income was $70,800, down 2.9% from 2020.
Full-time workers increased by 11.1 million, but after adjusting for inflation, the median wages of those workers fell 4.1%
