Friday, August 7, 2020

How U.S. Poverty Could Spike in the Last Half of the Year

Without a new stimulus and extended unemployment and SNAP benefits, millions of Americans will fall into poverty in 2020, an Urban Institute study finds. 
By , Bloomberg City Lab

Millions more Americans will be thrown into poverty if Congress fails to enact three policies meant to help families get through economic hardships related to the pandemic, according to a new study by the Urban Institute. 
The report finds that the poverty rate for the last five months of 2020 will rise to 11.9% if expanded unemployment-insurance benefits, a second round of stimulus checks, and increased SNAP allotments are not approved, a significant increase over the projected annual rate of 8.9%. Those three measures are contained in the HEROES Act that was passed by the House in May but has yet to clear the Senate. 
Read more, including a live link to the study, here