End of Pandemic Benefits , Caused Alarming Jump in , Childhood Poverty Rates.
On September 12, the United States Census Bureau released new data showing that child poverty more than doubled in 2022.
ABC reports that the alarming rise was the result of the cutting of pandemic-related government benefits combined with skyrocketing inflation.
ABC reports that the alarming rise was the result of the cutting of pandemic-related government benefits combined with skyrocketing inflation.
Over the same period of time, the official poverty rate for Black Americans reached its lowest level on record.
According to pre-tax income, income inequality dropped for the first time since 2007.
However, when looking at after-tax income, income inequality actually increased over the same period of time as a result pandemic-era tax credits coming to an end.
ABC reports that the government expanded child tax credit and sent out payments to families amid the COVID pandemic.
These measures expired at the end of 2021, while other COVID-related benefits expired between then and now.
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This represents a return to child poverty levels prior to the pandemic, Liana Fox, an assistant division chief at the Census Bureau, via ABC.
We did see the child tax credit had a substantial decrease in child poverty, Liana Fox, an assistant division chief at the Census Bureau, via ABC.
ABC reports that median household income in 2022 was at $74,580, falling 2.3% from the year before.
