Tag

Poverty Reduction

All articles tagged with #poverty reduction

taxation1 year ago•2 min saved

"Minnesota Offers New Child Tax Credit to 300,000 Families"

Minnesota is urging residents to take advantage of the new child tax credit, which could benefit nearly 300,000 lower-income households with up to $1,750 per child on their 2023 tax returns. The credit aims to reduce child poverty by one-third, but has income restrictions and is part of a $400 million initiative. Free tax preparation assistance is available at over 170 locations, and changes to the federal child tax credit are still being considered.

via KSTP|

#child-tax-credit #minnesota #poverty-reduction

politicseconomics1 year ago•2 min saved

"Child Tax Credit Expansion Passes House, Syphilis Cases Surge in US: A Snapshot of Current Welfare and Health Issues"

The House passed a $78 billion bipartisan tax package, including an expansion of the child tax credit that could benefit millions of children in low-income families. The proposed changes, while less generous than the pandemic-era credit, could still provide significant financial support to eligible families. If enacted, the bill would expand the credit through 2025 and potentially lift hundreds of thousands of children above the poverty line. Experts believe that a permanent expansion of the child tax credit could have long-term benefits, including higher graduation rates and future earnings for children in recipient families.

via CNBC|

#child-tax-credit #house-of-representatives #low-income-families

social-issues2 years ago•6 min saved

AMLO's Poverty Reduction Success in Mexico

Mexico's poverty rate has decreased by 5.6% from 2018 to 2022, lifting 5.1 million people out of poverty. The income gap has also narrowed, and the poverty level is at its lowest point in a generation. President AMLO's social programs, along with wage increases and labor legislation, have contributed to these positive outcomes. However, access to healthcare remains a challenge, and the government's transition to a new healthcare model has faced difficulties. Despite the progress, Mexico still has a significant number of people living in poverty, and further efforts are needed to achieve the goal of zero poverty in the next decade.

via Jacobin magazine|

#health-care #income-inequality #mexico

business2 years ago•3 min saved

Ajay Banga becomes first Indian-origin president of World Bank

Ajay Banga, former CEO of Mastercard, has been elected as the new president of the World Bank for a five-year term. He was nominated by US President Joe Biden and was the sole contender to replace David Malpass. Banga, an Indian-born finance and development expert, aims to revamp the lender to tackle climate change and other global crises. He will start his new job on June 2 and will play a critical role in pushing forward with additional reforms, including forging partnerships between the public and private sectors and nonprofit groups.

via CNN|

#ajay-banga #business #climate-change

world-news2 years ago•2 min saved

Ajay Banga appointed as World Bank President

Ajay Banga, former Mastercard CEO and US citizen of Indian origin, has been elected to lead the World Bank, becoming the first-ever Indian American to head the bank. He will replace David Malpass and begin his five-year term on 2 June. The US and other wealthy nations have been pushing the bank to increase its lending to fight climate change, but many developing nations are worried the focus on climate change will divert attention away from its anti-poverty efforts. As president of the World Bank, Mr Banga will have to address these issues - all without any clear additional money on the table.

via BBC|

#ajay-banga #climate-change #developing-countries