Monthly poverty increased in June 2022 & remained elevated in July 2022
Monthly poverty rates increased from May to June and remained elevated in July. The monthly poverty rate for the total population in June was 14.7%, the highest rate observed so far in 2022.
Monthly poverty rose in April and May 2022 after temporary tax time dip
Monthly poverty rates rose in April to 13.0% and May to 14.1% following the temporary dip in March when most refundable tax credits were delivered. The monthly child poverty rate rose to 14.1% in April and 16.6% in May.
Tax credits give income boost, but regular monthly cash payments would reduce poverty year round
The tax filing season is an important one for many families as it provides meaningful boosts to family income and a temporary dip in monthly poverty rates. However, in recent research we find that regular monthly cash payments would help reduce poverty year round.
3.4 million more children in poverty in February 2022 than December 2021
Monthly poverty remained elevated in February 2022, with a 14.4 percent poverty rate for the total US population and 16.7 percent for children.
December Child Tax Credit kept 3.7 million children from poverty
The sixth Child Tax Credit payment kept 3.7 million children from poverty in December. In absence of a January payment, the monthly child poverty rate could potentially increase from 12.1 percent to at least 17.1 percent in early 2022.
November 2021 Child Tax Credit payment kept 3.8 million children from poverty
According to our latest projections, the expanded Child Tax Credit kept 3.8 million children from poverty with its fifth monthly payment in November 2021.
October 2021 Child Tax Credit payment kept 3.6 million children from poverty
According to our latest projections, the expanded Child Tax Credit kept 3.6 million children from poverty with its fourth monthly payment in October 2021.
Expanded Child Tax Credit continues to keep millions of children from poverty in September 2021
According to our latest projections, the expanded Child Tax Credit kept 3.4 million children from poverty with its third monthly payment in September 2021.