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.
An archive of this webinar is available here.
Using the New Poverty Data
Wednesday, September 9, 2:00 p.m. – 3:30 p.m. Eastern time
The annual Census Bureau data about poverty, income, and health insurance will be released on September 16 and 17. There is increasing recognition that poverty is stubborn, entrenched, and damaging. There is also a growing body of evidence about what works to reduce poverty.
Learn how to get accurate information about your state and community – and how to use it to press for real solutions.
Presenters:
Jared Bernstein, Senior Fellow, Center on Budget and Policy Priorities
Jared, formerly Chief Economist and Economic Advisor for Vice President Biden and the Obama White House, and now a prominent writer and commentator on economic issues, will predict likely poverty and income trends in the new data. And show us what works to reduce poverty – and what doesn’t.
Deborah Weinstein, Executive Director, Coalition on Human Needs
Debbie has been providing practical, hands-on tips on using the Census survey data for a long time. Each year, she works to streamline the info so you can find and use poverty, income, health insurance, education, disability, race/ethnicity, employment and other data for the nation, and for states and communities.
The webinar will give you step-by-step instructions to find the information you need, including trends over time and comparisons to other states. All registrants will be sent those instructions and follow-up help when the Census Bureau releases its new reports.