Thursday, July 29, 2021

US Sees Record Drop in Poverty After Pandemic Aid July 29, 2021

It may seem counterintuitive that poverty levels could decline during a pandemic, but in fact they will almost halve this year in the U.S. Thanks to the huge increase in government aid sparked by the coronavirus, the number of poor Americans will be the lowest on record. A study published yesterday predicts there will be 20 million fewer people in poverty compared to 2018, a 45% drop, thanks largely to expanded unemployment insurance, food stamps and stimulus checks. The Biden administration wants to make an expansion of the child tax credit permanent but conservatives argue pandemic-era spending is unsustainable. (Sources: NYT, Reuters)

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