In response to the U.S. Census Bureau’s release of new data on poverty in 2023, Rebecca Riddell, Oxfam America’s Economic and Racial Justice Senior Policy Lead, said:
“The U.S. is home to the most billionaires on Earth, and yet we still have some of the highest rates of child poverty among high-income nations. Today’s new data on poverty in 2023 shows that, despite notable recent gains, far too many people in this country, including nearly 10 million children, still live under the poverty threshold. Too many families are facing needless economic hardship while the ultra-wealthy continue to rig the system in their own favor.
“While it’s good news that incomes are up, it’s clear that the decades-long war on poverty still has a long way to go. We’re especially alarmed by the persistence of racial and gender inequalities. This needs to change.
“The Covid-19 pandemic taught us that we absolutely can use policy to quickly and effectively bring down poverty and inequality. Taxing billionaires, investing in anti-poverty tax credits, or finally raising the federal minimum wage would all have a big impact and provide critical support for families. We need to start using these proven tools to fight inequality in the U.S.”
Oxfam is a global organization that fights inequality to end poverty and injustice. We offer lifesaving support in times of crisis and advocate for economic justice, gender equality, and climate action. We demand equal rights and equal treatment so that everyone can thrive, not just survive. The future is equal. Join us at oxfamamerica.org.
/ENDS
Notes to editors:
The United States continuously has one of the highest child poverty rates among OECD countries.
Temporary pandemic-era federal reforms, such as the expanded child tax credit, achieved monumental but temporary reductions in poverty and post-tax inequality. Between 2020 and 2021, child poverty fell 46% from 9.7% to 5.2%, a record low. In 2022, as the expanded CTC expired, child poverty more than doubled, to 12.4%.
All poverty rates refer to the Supplemental Poverty Measure (SPM), one of two poverty measures that the U.S. Census Bureau reports annually, which takes into account many of the government programs designed to assist low-income families, as well as certain taxes and tax credits.