Median Household Income After Taxes Fell 8.8% in 2022 - eviltoast
End of Pandemic-Era Expanded Federal Tax Programs Results in Lower Income, Higher Poverty
www.census.gov
The expiration of expansions to federal programs during COVID-19 resulted in lower post-tax household income and higher poverty rates.
  • protist@mander.xyzEnglish
    2·
    1 year ago

    Almost entirely credited to the cessation of pandemic–related tax credits:

    In 2020 and 2021, most households also received Economic Impact Payments (EIP) that were no longer issued in 2022.

    The rollback of these tax policies had the largest effect on post-tax income among the nation’s lowest-income households.