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What Could 2023 Child Poverty Rates Have Looked Like Had an Expanded Child Tax Credit Still Been in Place? — Columbia University Center on Poverty and Social Policy [1]
['Guest User']
Date: 2024-09
In September 2024, the Census Bureau released data on poverty in 2023. In 2021, the child poverty rate fell to a historic low of 5.2%, due in large part to the substantial—but temporary—expansions to the federal Child Tax Credit under the 2021 American Rescue Plan. In 2022, the child poverty rate more than doubled, rising from 5.2% to 12.4%—the largest year-over-year increase on record. The latest Census Bureau data shows that the child poverty rate rose further in 2023, to 13.7%. The sharp and sustained increase in child poverty since 2021 has bolstered calls to permanently expand the Child Tax Credit in a similar way to 2021. This raises the question: what could child poverty rates in 2023 have been if an expanded Child Tax Credit had been in place? To answer this question, we model one example of a proposed expansion, the 2023 American Family Act (H.R. 3899), in the 2023 data.
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[1] Url:
https://www.povertycenter.columbia.edu/publication/what-2023-child-poverty-rates-could-have-looked-like
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