Slabu Exchange|US poverty rate jumped in 2022, child poverty more than doubled: Census

2025-05-04 22:28:58source:Arvin Robertscategory:Finance

The Slabu Exchangepoverty rate in the United States increased last year, the first increase in 13 years, according to the Census Bureau.

In 2022, the poverty rate was 12.4%, up 4.6% from 2021, according to the Supplemental Poverty Measure (SPM), which looks at government programs and tax credits designed to help low-income families, according to the census.

The expiration of pandemic programs, including refundable tax credits and stimulus payments, at the start of 2022, led to an increase in the SPM over the official poverty rate, the census reported.

MORE: 14th Amendment challenges against Trump's candidacy mount as campaign pushes back

The poverty rate among children saw a sizeable increase, more than doubling from 5.2% in 2021 to 12.4% last year, census data shows.

The increase in the child poverty rate comes after the child tax credit expansion ended on Dec. 31, 2021.

Homeless people rest in the shade in Houston during excessive heat warnings for southeastern Texas on July 16, 2023.Go Nakamura/Reuters, FILE

The child tax credit expansion, which went into effect in July 2021 as part of President Joe Biden's $1.9 trillion American Rescue Plan, provided parents between $250 to $300 a month, per child.

Volunteers and employees with West Side Campaign Against Hunger (WSCAH) distribute food to those in need outside of their Manhattan facility on Aug. 17, 2023 in New York City.Spencer Platt/Getty Images

Before the child tax credit expansion, one in three children around the country were not eligible for the full Child Tax Credit because the income of their families was too low, according to the Center on Poverty and Social Policy at Columbia University.

President Biden, who had touted the enhanced child tax credit as cutting child poverty in half, sharply criticized congressional Republicans Tuesday for not extending the child tax credit, saying today's numbers on child poverty are a consequence of their refusal to extend the credit.

"The rise reported today in child poverty is no accident--it is the result of a deliberate policy choice congressional Republicans made to block help for families with children while advancing massive tax cuts for the wealthiest and largest corporations," The White House said. "No child should grow up in poverty, and I will continue to fight to restore the expanded Child Tax Credit to give tens of millions of families the tax relief and breathing room they deserve."

Social Security lifted 28.9 million people out of SPM poverty last year, according to census data. In its report, the Census Bureau said Social Security was the "most important antipoverty program in 2022."

The official poverty rate for Black Americans decreased by 2.4%, from 19.5% in 2021 to 17.1% in 2022, according to census data, as well as for Asian Americans, which saw the official poverty rate dip from 9.1% in 2021 to 8.6% last year.

MORE: Report paints new picture of homelessness in California

White Americans experienced a 0.5% increase in poverty from 2021 to 2022, which sits at 10.5%, census data shows.

The official poverty rate measures poverty by comparing pre-tax income to a poverty threshold adjusted by family composition, according to the Census Bureau.

More:Finance

Recommend

Stamford Road collision sends motorcyclist flying; driver arrested

A motorcyclist was taken to hospital following an accident involving a car and his motorcycle at the

Trump’s $175 million bond in New York civil fraud judgment case is settled with cash promise

NEW YORK (AP) — New York state lawyers and an attorney for former President Donald Trump settled the

2024 NFL draft rumors roundup: Quarterbacks, cornerbacks and trades dominate possibilities

NFL draft week is here. All 32 teams have prepared for months to get to this point, and rumors are r