Pandemic Aid Programs Spur Record Drop In Poverty

New York Times: “The huge increase in government aid prompted by the coronavirus pandemic will cut poverty nearly in half this year from pre-pandemic levels and push the share of Americans in poverty to the lowest level on record, according to the most comprehensive analysis yet of a vast but temporary expansion of the safety net.”

“The number of poor Americans is expected to fall by nearly 20 million from 2018 levels, a decline of almost 45 percent. The country has never cut poverty so much in such a short period of time.”