According to a study by Columbia University, eight million Americans are living in poverty as a result of the coronavirus crisis. Despite the implementation of the CARES Act, which provided much-needed direct cash payments to many, the effect was only temporary.
And like many other aspects of the pandemic, Black and Hispanic communities and children are disproportionately feeling the brunt of rising poverty rates. A family of four earning $26,000 per year or less is considered living below the poverty line.
In April, the federal stimulus saved about 18 million Americans from poverty. As of September, that number has plummeted to four million. Today, 55 million people are living in poverty, according to Columbia researchers.
The findings are highlighted by news of negotiations for a new pandemic stimulus package this week. Senate Majority Leader Mitch McConnell announced on Saturday that early this week, Republicans will attempt to pass a stand-alone Paycheck Protection Program bill to help struggling small businesses, as well as a $500 stimulus bill that was previously rejected by Democrats.
On Sunday, House Speaker Nancy Pelosi responded to McConnell’s announcement,…