I agree. To add an example: the US government’s 2021 expanded child tax credit lifted 3.7 million children out of poverty, a near 50% reduction. Moreover, according to the NBER’s initial assessment: “First, payments strongly reduced food insufficiency: the initial payments led to a 7.5 percentage point (25 percent) decline in food insufficiency among low-income households with children. Second, the effects on food insufficiency are concentrated among families with 2019 pre-tax incomes below $35,000”.
Despite this, Congress failed to renew the program. Predictably, child poverty spiked the following year. I don’t have an estimate for how many lives this cost, but it’s greater than zero.
I agree. To add an example: the US government’s 2021 expanded child tax credit lifted 3.7 million children out of poverty, a near 50% reduction. Moreover, according to the NBER’s initial assessment: “First, payments strongly reduced food insufficiency: the initial payments led to a 7.5 percentage point (25 percent) decline in food insufficiency among low-income households with children. Second, the effects on food insufficiency are concentrated among families with 2019 pre-tax incomes below $35,000”.
Despite this, Congress failed to renew the program. Predictably, child poverty spiked the following year. I don’t have an estimate for how many lives this cost, but it’s greater than zero.