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The CARES ACT and Poverty in the COVID-19 Crisis: Promises and Pitfalls of the Recovery Rebates and Expanded Unemployment Benefits

Author

Listed:
  • Zachary Parolin

    (Columbia University)

  • Megan Curran

    (Columbia University)

  • Christoper Wimer

    (Columbia University)

Abstract

In response to rapidly rising unemployment rates, Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which included nearly $500 billion in direct income transfers for families across the country. In this brief, we apply new forecasting methods to project the effect of the CARES Act’s income transfers on poverty rates using the Supplemental Poverty Measure (SPM) framework. In response to rapidly rising unemployment rates, Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which included nearly $500 billion in direct income transfers for families across the country. In this brief, we apply new forecasting methods to project the effect of the CARES Act’s income transfers on poverty rates using the Supplemental Poverty Measure (SPM) framework.

Suggested Citation

  • Zachary Parolin & Megan Curran & Christoper Wimer, 2020. "The CARES ACT and Poverty in the COVID-19 Crisis: Promises and Pitfalls of the Recovery Rebates and Expanded Unemployment Benefits," Poverty and Social Policy Brief 2048, Center on Poverty and Social Policy, Columbia University.
    • Handle: RePEc:aji:briefs:2048
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    Citations

    RePEc Biblio mentions

    As found on the RePEc Biblio, the curated bibliography for Economics:
    1. > Economics of Welfare > Health Economics > Economics of Pandemics > Specific pandemics > Covid-19 > Economic policy > Household support > CARES Act
    2. > Economics of Welfare > Health Economics > Economics of Pandemics > Specific pandemics > Covid-19 > Economic consequences > Socioeconomic status

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    Cited by:

    1. Zachary Parolin, 2020. "Monthly Poverty Rates in the United States during the COVID-19 Pandemic," Poverty and Social Policy Brief 20409, Center on Poverty and Social Policy, Columbia University.
    2. Zachary Parolin & Megan Curran & Jordan Matsudaira & Jane Waldfogel & Christoper Wimer, 2021. "Estimating Monthly Poverty Rates in the United States," Poverty and Social Policy Brief 20415, Center on Poverty and Social Policy, Columbia University.
    3. F. Stevens Redburn, 2021. "Budgeting for existential crisis: The federal government as society's guarantor," Public Budgeting & Finance, Wiley Blackwell, vol. 41(3), pages 5-21, September.

    More about this item

    Keywords

    poverty; COVID-19; social policy; SPM;
    All these keywords.

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