🏁 Axios Finish Line: Stunning, encouraging stat

Plus: Challenge continues | Tuesday, September 13, 2022

Open in app View in browser   Presented By BlackRock   Axios Finish Line By Mike Allen, Erica Pandey and Jim VandeHei ·Sep 13, 2022 Sep 13, 2022 Welcome back. Smart Brevity™ count: 360 words ... 1½ minutes.     1 big thing: U.S. child poverty hits new record low Illustration: Maura Losch/Axios   Child poverty in America has dropped by more than 80% since 1993. Zoom in: The child poverty rate was 27.9% in 1993, but fell to a record low of 5.2% in 2021, according to new census data. Why it matters: Growing up poor affects every facet of adult life, from health to wealth. "Fewer children growing up in poverty is good for the future," says Renee Ryberg, a co-author of a new report from Child Trends that digs into the data. "It's as simple as that." Not only are there immediate improvements to the well-being of kids and families, there are also long-term benefits for society, like lower rates of crime, lower health care costs and more tax revenue. 🧠 Reality check: Pandemic-era expanded government benefits, from stimulus checks to an expanded child tax credit, were major drivers in reducing child poverty in 2020 and 2021. Academics and advocates have raised concerns that some of those additional gains may be erased now that the expanded child tax credit has expired. Still, many of the driving factors behind the drop in child poverty are longer term. They include lower unemployment, state-level minimum wage increases, a rise in single mothers' participation in the workforce, and expansions of the safety net, the New York Times reports. The big picture: The reduction in child poverty has affected all poor kids in the U.S., per the Child Trends report. The child poverty rate has decreased in every state. And it's fallen by about the same amount for Black kids, white kids, Hispanic kids, Asian kids, immigrants, and kids in one- or two-parent households. Share this story.     A message from BlackRock Invested in the future of retirees     All across the country, people are working hard to build a better future. So, we are hard at work, helping them achieve financial freedom. At BlackRock, we are proud to manage the retirement plan assets of over 35 million Americans. Learn more.     💐 Pay-it-forward challenge Thanks to the hundreds of readers who are continuing to send heartening stories about small, random acts of kindness. Our pay-it-forward challenge continues. We're asking readers to take this week to do one nice thing for a friend or stranger (we'll do the same). Then, tell us about the experience — and their reaction — in a couple of sentences. Send your story and your name and hometown to finishline@axios.com, and we'll feature a selection of them on Monday.   Are you a fan of this email format? It's called Smart Brevity®. Over 300 orgs use it — in a tool called Axios HQ — to drive productivity with clearer workplace communications.   Axios thanks our partners for supporting our newsletters. If you're interested in advertising, learn more here. Sponsorship has no influence on editorial content. Axios, 3100 Clarendon B‌lvd, Arlington VA 22201   You received this email because you signed up for newsletters from Axios. Change your preferences or unsubscribe here.   Was this email forwarded to you? Sign up now to get Axios in your inbox.   Follow Axios on social media: