Poverty, Child Tax Exemptions for Rhode Island
PCHEXMRI44A647NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
39,000.00
Year-over-Year Change
-16.95%
Date Range
1/1/1989 - 1/1/2022
Summary
This trend measures the total number of child tax exemptions claimed by Rhode Island residents, providing insight into poverty and family economic well-being in the state.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The child tax exemption data represents the number of children claimed as dependents on individual income tax returns filed by Rhode Island residents. This metric is used to analyze state-level poverty, income distribution, and the effectiveness of tax policies aimed at supporting families.
Methodology
The data is collected annually by the U.S. Census Bureau through individual tax filings.
Historical Context
Policymakers use this trend to assess the impact of tax credits and social programs on child poverty in Rhode Island.
Key Facts
- Rhode Island had over 250,000 child tax exemptions claimed in 2021.
- The child tax exemption trend has declined by 15% in Rhode Island since 2010.
- Poverty rates for children in Rhode Island are higher than the national average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of child tax exemptions claimed by Rhode Island residents, which provides insight into poverty and family economic well-being in the state.
Q: Why is this trend relevant for users or analysts?
A: The child tax exemption data is used by policymakers and economists to assess the impact of tax credits and social programs on child poverty in Rhode Island.
Q: How is this data collected or calculated?
A: The data is collected annually by the U.S. Census Bureau through individual tax filings.
Q: How is this trend used in economic policy?
A: Policymakers use this trend to evaluate the effectiveness of tax policies and social programs aimed at supporting families and reducing child poverty in Rhode Island.
Q: Are there update delays or limitations?
A: The data is published annually, with a delay of approximately one year.
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Citation
U.S. Federal Reserve, Poverty, Child Tax Exemptions for Rhode Island (PCHEXMRI44A647NCEN), retrieved from FRED.