Childhood poverty in the U.S. fell by almost half last year, according to Census Bureau data. The drop coincided with the expansion of the federal government’s child tax credit and the distribution of pandemic stimulus payments.
Kymme Williams-Davis, right, takes orders at the Bushwick Grind Café she owns, Thursday Sept. 8, 2022, in New York. Williams-Davis has noticed a definite shift in customer demand since she's had to raise prices and switch to different types of goods to keep up with inflation.
Income inequality in the U.S. increased last year for the first time in more than a decade, but childhood poverty was cut almost in half due to expansion of the federal government’s child tax credit and stimulus payments made in response to the COVID-19 pandemic, according to new survey results released Tuesday by the U.S. Census Bureau.
Declines in household income among the poorest U.S. residents appears to have driven the widening of the income inequality gap. Households in the 90th percentile of the income distribution, the richest, had income that was 13.5 times higher than households in the 10th percentile, the poorest. That was a 4.9% increase from 2020.
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