The latest Census numbers have some positive key indicators. But, some are concerned about where those indicators may be heading next year.
Incomes are rising and poverty is dropping while access to health care remains steady. That's according to the latest Census numbers.
"Steady health coverage, some modest growth in family incomes and the official poverty rate falling slightly. But we think that this could look different next year," says Megan Davis at the Commonwealth Institute. "Trump-backed policies like tariffs, cuts to food assistance and health coverage could impact family wellbeing in 2025 and what we see in next year's data."
Davis says next year's data is likely to show a significant increase in poverty as unemployment grows, job growth slows and prices increase because of tariffs. But Steven Haner at the Thomas Jefferson Institute says the new federal law also has some measures that will reduce poverty.
"They eliminated the tax on tips, and a lot of low-income families work for tips. And that's going to help lower poverty," says Haner. "They eliminated the tax on overtime, and a lot of low-income families work for overtime. That is going to reduce poverty."
Access to health insurance is likely to take top billing next year, when lawmakers return to the Capitol and start trying to balance the books for next year’s budget. At issue – how much Virginia should step in and cover the cost of people who lose access to coverage.
This report, provided by Virginia Public Radio, was made possible with support from the Virginia Education Association.
