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The child poverty rate plummeted in 2021, thanks largely to a major, but temporary, boost to the child tax credit in the $1.9 trillion American Rescue Plan Act. It beefed up payments to $3,600 for ...
Social Security continued to be the “most important antipoverty program” in 2022, moving 28.9 million people out of SPM poverty. Refundable tax credits moved 6.4 million out of SPM poverty ...
The 2021 credit gives eligible families $3,600 per child under age six, and $3,000 per child ages six to 17. Many families are already receiving half their credit in the form of monthly payments.
Then, those gains were reversed, and child poverty soared, more than doubling from 4 million in 2021 to 9 million in 2022, according to the Census Bureau: The poorest families, which qualified for ...
September 11, 2023 at 4:00 PM. The White House is preparing for a sharp rise in the U.S. poverty rate following the end of pandemic-era child tax credit (CTC) expansion. President Biden and ...
For future policies, research suggests that greater investment directed to children and families in poverty and connections between healthcare providers and financial services can lower the child poverty rate. In 2022, the child poverty rate climbed to 12.4% from 5.2% in 2021, largely as a result of the end of pandemic aid in late 2021.
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