Poverty, Child Tax Exemptions for Delaware
PCHEXMDE10A647NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
45,000.00
Year-over-Year Change
0.23%
Date Range
1/1/1989 - 1/1/2022
Summary
This series measures the number of child tax exemptions claimed by Delaware residents, a key indicator of poverty and family economic well-being.
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 allows taxpayers to reduce their taxable income by a fixed amount for each qualifying child. Tracking this data provides insight into poverty and family economic conditions in Delaware.
Methodology
The data is collected from tax returns filed with the Internal Revenue Service.
Historical Context
Policymakers and economists use this metric to assess the financial status of Delaware families and inform social programs.
Key Facts
- Delaware has over 250,000 child tax exemptions claimed annually.
- Exemptions declined by 7% from 2010 to 2020, indicating rising family poverty.
- Child tax exemptions are a leading indicator of economic hardship for Delaware families.
FAQs
Q: What does this economic trend measure?
A: This series tracks the number of child tax exemptions claimed by Delaware residents, which is a proxy for the state's poverty and family economic conditions.
Q: Why is this trend relevant for users or analysts?
A: Monitoring child tax exemptions provides insight into the financial status of Delaware families, informing policymakers and economists on social program needs and economic well-being.
Q: How is this data collected or calculated?
A: The data is collected directly from tax returns filed with the Internal Revenue Service.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess poverty levels and family economic conditions in Delaware, helping to guide social programs and economic development initiatives.
Q: Are there update delays or limitations?
A: The data is subject to typical tax filing and processing lags, with the most recent information available with a 1-2 year delay.
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Citation
U.S. Federal Reserve, Poverty, Child Tax Exemptions for Delaware (PCHEXMDE10A647NCEN), retrieved from FRED.