The Census Bureau just released national poverty, income, and insurance data for 2023. It’s important to understand income and health insurance trends, but it’s especially important now since Congress will take up major tax legislation in 2025.
One thing we know for sure is that when the Child Tax Credit (CTC) was expanded in 2021, child poverty decreased by 46% overall, with Black and Hispanic/Latino child poverty falling by 6.3 percentage points in each community, impacting 716,000 Black children and 1.2 million Hispanic children. The new data shows that in 2023, the CTC lifted 2.4 million people above the federal poverty line―while important, falling far short of the 5.4 million lifted above the federal poverty line in 2021 by expanded monthly Child Tax Credit payments that included all children in low-income families.
Click here to send a direct message to Congress to expand the Child Tax Credit today.
Many people are facing food and housing insecurity, challenges with high child care costs, and dealing with other hardships that make it harder to make ends meet. Expanding the Child Tax Credit fixes a major flaw in current law: over 18 million children and their families are excluded from the full credit because their parents’ income is too low.
You read that right. Families where a parent can’t work due to illness or being laid off, cannot qualify for the Child Tax Credit at all. And many parents who work at low wages cannot get the full CTC. A single parent earning $15,000 a year and who has two children, will receive less than a family with a parent who has a higher paying job. This is a flaw that does nothing but exacerbate inequity and accelerate the racial wealth gap.
Instead of cutting investments in key programs and services, Congress must prioritize funding for human needs and that means passing an expanded Child Tax Credit that reaches the very poorest households.
Click here to send a direct message to Congress to expand the Child Tax Credit today.
Most Americans agree that family comes first. No matter where you work or what zip code you live in, you should be able to welcome a new child, to care for your mother when she has her knee replaced or to heal from cancer without facing financial disaster.
And yet in 2016, only 14 percent of private sector workers in the U.S. reported having paid family leave through an employer; less than 40 percent have personal medical leave through an employer-provided temporary disability program. The United States and Papua New Guinea are the only countries in the world without a paid leave law. Because 44 percent of American households don’t have enough savings to cover their basic expenses for three months, families are often forced to choose between taking time off to care for a partner or parent with an unexpected medical emergency or continuing to work so that they can keep their job and health insurance. The crisis is just as bleak for new mothers. Nearly 1 in 4 mothers return to work within two weeks of having a baby. Without the protections of paid leave, new mothers are 40% more likely to need food stamps or public assistance.
Weaving powerful stories together with insightful interviews with leading policymakers, economists, researchers, and activists, Zero Weeks lays out a compelling argument for guaranteed paid leave for every American worker. The film looks at paid leave from an emotional, medical, financial and global perspective.
Once a fringe issue, paid leave is now central to the national debate. The issue is not just political, it’s smart economics. Three states that have implemented their own policies—California, New Jersey and Rhode Island—have experienced greater economic stability. Companies like Google, which provide over 16 weeks of paid leave, have seen their rates of attrition fall by 50%. Paid leave is not just good for families, relationships, and the health of seniors, parents and children, but it is beneficial for business and our nation’s ability to compete on a global scale.
Join the Economic Policy Institute on Thursday, May 16, for a screening of Zero Weeks, a movie that chronicles the deep financial and emotional distress caused by America’s shameful lack of paid leave in the workplace
The screening will begin at 3:30 p.m., with introductory remarks from EPI Senior Economist Elise Gould, Director of Family Values @ Work Ellen Bravo, and the film’s director, Ky Dickens. The movie will start promptly at 4 p.m. Snacks and beverages will be served during the film and a brief reception will follow the screening.
What: Screening of “Zero Weeks: America’s Leave Crisis and the Cost of Doing Nothing”
When: Thursday, May 16
3:30 p.m Eastern
Who: EPI Senior Economist Elise Gould
Director of Family Values @ Work Ellen Bravo
Director Ky Dickens
Where: The Economic Policy Institute
1225 I Street NW, Sixth floor
Washington, DC 20005