Poverty rate jumps in 2022 after end of enhanced child tax credit
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2023-09-12 22:49
The share of Americans, particularly children, in poverty rose significantly last year, in part because Congress did not renew a Covid-19 pandemic enhancement to the child tax credit, according to Census Bureau data released Tuesday.

The share of Americans, particularly children, in poverty rose significantly last year, in part because Congress did not renew a Covid-19 pandemic enhancement to the child tax credit, according to Census Bureau data released Tuesday.

Some 12.4% of children were in poverty last year, up from 5.2% the year before and just under where it was prior to the pandemic in 2019, based on a broader alternative measure developed by the Census Bureau. The Supplemental Poverty Measure, which began in 2009, takes into account certain non-cash government assistance, tax credits and needed expenses -- addressing a major flaw in the official poverty rate, economists say.

Overall, the supplemental poverty rate was 12.4% for 2022, up from 7.8% a year earlier and higher than the pre-pandemic rate of 11.7%. It's the first increase in the rate since 2010.

Meanwhile, median household income was $74,580 last year, down 2.3% from 2021. The figures are adjusted for inflation.

This story is breaking and will be updated.

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