CONCLUSIONS AND WHAT TO EXPECT GOING FORWARD
This report examines the state of poverty and disadvantage among New Yorkers in 2022. The sharp increase in poverty and hardship compared to 2021 was not unexpected, as 2022 saw the expiration of historic policies and income supports implemented under the 2021 American Rescue Plan (ARP) that helped individuals and families through the economic impacts of the pandemic. In turn, these policies kept adult poverty rates in 2021 from rising significantly and drove the child poverty rate to a record low both nationally and in New York City. Now, in 2022, rates of adult poverty and material hardship have returned to pre-pandemic levels. Poverty Tracker data shows that more than half of adult New Yorkers lived below 200% of the poverty line, and 1 in 4 children lived in poverty in 2022. Yet economic difficulty was not limited to the domain of poverty; other indicators, such as material hardship and health problems, also increased in 2022. Almost 3 in 10 (29%) adult New Yorkers endured some form of material hardship, and almost 1 in 4 (24%) struggled with poor health or a work-limiting health condition – both increases from the year prior. More than half of New Yorkers (52%) experienced at least one of these three forms of disadvantage. The notable rises in poverty, hardship, and health problems in 2022 provide a clear example of what happens when social policy expansions are only temporary, emphasizing the need for more long-lasting solutions. Permanently expanding tax credits such as the Child Tax Credit and New York State’s Empire State Child Credit has the potential to significantly reduce child poverty and help lower-income families bet- ter navigate child care within the city. In terms of housing, efforts to both increase the supply of affordable housing and help tenants afford rent and avoid eviction could lessen housing-related hardships and thus overall hardship in the city. Zoning reforms that allow for the development of more affordable housing, along with expanding rental assistance vouchers, are examples of resources that can assist New Yorkers with the high cost of living in the city. Although pandemic-era policy reforms have expired and we have returned to pre-pandemic levels of poverty, targeted policy solutions can work to reduce poverty and hardship across the city, and make the city a truly more affordable place to live for all its residents.
THE STATE OF POVERTY AND DISADVANTAGE IN NEW YORK CITY 41
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