According to a 2023 report from Robin Hood and Columbia University, New York's poverty rate has surged to 25%, affecting about two million residents. This includes 1.6 million adults and 420,000 children, with child poverty hitting a record 26%. Rising costs of living have increased the poverty threshold for families, making support programs crucial. Richard R. Buery, Jr. warns that cuts to federal aid would severely impact vulnerable families. Despite a slight decrease in those struggling to afford essentials, many still face financial challenges even above the poverty line.
The high cost of living in New York was strenuous for families who needed at the very least $50,000 to cover the basics.
One in four New York children remains below the poverty line, one of the highest child poverty rates in the nation.
Threatened reductions to these vital supports would be nothing short of a mass impoverishing event.
The poverty threshold for a renting family of four increased to $47,190, up 7.5% from the previous year's threshold of $43,890.
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