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NYU professor at White House finds Democrats wary of taxing rich

NYU professor at White House finds Democrats wary of taxing rich
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A Monumentally Important Democratic Spending Bill

A Monumentally Important Democratic Spending Bill
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Federal Dollars Drive Record Drop in Poverty

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The level of poverty in the U.S. will fall by roughly half this year, due almost entirely to the increase in government aid provided during the Covid-19 pandemic, according to a new analysis by a team of researchers at the Urban Institute.
Looking at the effects of the $1.9 trillion American Rescue Plan Act, which provided a range of benefits including direct payments, enhanced unemployment aid and refundable child tax credits, the researchers estimate that the poverty rate will fall to 7.7% in 2021 a huge drop from the 13.9% rate estimated for 2018, and the largest single-year reduction on record. In raw numbers, about 20 million fewer people are living in poverty due to the programs in the ARPA. ....

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Pandemic aid programmes spur a record drop in poverty in America

Jason DeParle, The New York Times
Published: 29 Jul 2021 11:55 AM BdST
Updated: 29 Jul 2021 11:55 AM BdST
Kathryn Goodwin with her children at their home in Saint Charles, Mo, on July 25, 2021. From left: Aliyah, 6; Vivian, 3; Xavier, 5; Evelyn, 2; and Chloe, 11. (Sarahbeth Maney/The New York Times)
The huge increase in government aid prompted by the coronavirus pandemic will cut poverty nearly in half this year from prepandemic levels and push the share of Americans in poverty to the lowest level on record, according to the most comprehensive analysis yet of a vast but temporary expansion of the safety net.
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The number of poor Americans is expected to fall by nearly 20 million from 2018 levels, a decline of almost 45%. The country has never cut poverty so much in such a short period of time, and the development is especially notable since it defies economic headwinds the economy has nearly 7 million fewer jobs than it did before th ....

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Pandemic aid programs spur a record drop in poverty

Pandemic aid programs spur a record drop in poverty
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