Arloc Sherman

On Tuesday, September 10, the Census Bureau will release household income, poverty, and health insurance figures for 2023 from the Current Population Survey (CPS). The data may include notable good news, including record low shares of people uninsured along with rising income and falling poverty after accounting for inflation.

The House-passed bipartisan tax bill’s expansion of the Child Tax Credit takes an important step forward and would increase the credit for about 16 million children in families with low incomes in its first year. The expansion includes a so-called “lookback” provision — a modest but important provision designed to help families weather a year when their earnings temporarily decline by allowing them to use the prior year’s earnings to calculate their Child Tax Credit.

On September 12 the Census Bureau will release nationwide figures for poverty, income, and health insurance coverage in 2022 from its Current Population Survey (CPS). Additional health insurance data from the American Community Survey (ACS) will follow September 14. Here are two things to look for: Poverty may have risen by historic amounts, driven by the expiration of pandemic relief including, notably, the expanded Child Tax Credit.