A think tank's new estimates on the 2021 poverty rate are revising down its earlier projections
Without stimulus checks, approximately 12.4 million more Americans would be living in poverty right now, according to new projections on the results of pandemic-related government safety net spending in 2021.
Case in point: food stamps, which come under the Supplemental Nutrition Assistance Program, are keeping 7.9 million people out of poverty this year and expanded unemployment benefits, in conjunction with other programs, are keeping 6.7 million people out of poverty, researchers estimated. Overall, the poverty rate is projected to sink to an estimated 7.7% in 2021, which is lower than the 13.9% rate in 2018, when the think tank did the same sort of analysis. In fact, the 7.7% rate is even lower than the 8.7% poverty rate the researchers previously thought would occur this year.
Expanded unemployment ends in early September in the states that still have the boosted benefits, and extra money for SNAP subsidies ceases in September too. Another focus is potentially extending the enhanced payments under the child tax credit beyond 2021, Mills said.
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