Thursday, August 13, 2020

How Are the Most Vulnerable Households Navigating the Financial Impact of COVID-19?

During June and July 2020, Prosperity Now conducted a national survey of 2,252 lower-income households around the country to understand how these families are navigating the COVID-19 crisis. The survey showed that nearly 40 percent of lower-income households feel worse off financially due to the pandemic and almost half of those surveyed reported that they were unable to fully cover at least one of their basic expenses. While almost 84 percent of respondents had received their CARES Act economic impact payment, White households were eight percentage points more likely to have received the payment than Black or Latino households. Additionally, those in the lowest income bracket were slightly less likely than those in higher income brackets to have received their stimulus check.