Coronavirus pandemic plunges millions of Americans into poverty
As Congress remains deadlocked on a new coronavirus economic stimulus package, two new studies show at least 6 million more people in the US are in poverty due to the effects of the Covid-19 pandemic.
A study from Columbia University published on Thursday found that the number of Americans in poverty grew by 8 million since May.
Since then, monthly poverty rates have grown closer to what researchers estimate rates would have been without the Cares Act. The poverty rates in August and September were 17.3% and 16.7%, respectively. Without the stimulus package, researchers would have expected rates of 18.7% and 18% in those months, respectively.