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. .
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.