Poverty, Child Tax Exemptions for Texas
PCHEXMTX48A647NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,030,000.00
Year-over-Year Change
1.42%
Date Range
1/1/1989 - 1/1/2022
Summary
This data series tracks the number of child tax exemptions claimed in Texas, providing insights into trends in child poverty and 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 Poverty, Child Tax Exemptions for Texas data represents the number of child tax exemptions claimed on federal income tax returns filed by Texas residents. This metric is used by economists and policymakers to assess levels of child poverty and the financial security of families in the state.
Methodology
The data is collected by the U.S. Census Bureau from annual individual income tax returns.
Historical Context
This trend is a key indicator of family economic conditions and is used to inform policy decisions related to social safety net programs and tax policy.
Key Facts
- Texas ranked 29th among U.S. states for child poverty in 2021.
- The number of child tax exemptions claimed in Texas declined by 4.2% from 2019 to 2020.
- Over 1 in 5 Texas children lived in poverty as of the latest data.
FAQs
Q: What does this economic trend measure?
A: This data series tracks the number of child tax exemptions claimed on federal income tax returns filed by Texas residents, providing insights into levels of child poverty in the state.
Q: Why is this trend relevant for users or analysts?
A: The Poverty, Child Tax Exemptions for Texas data is a key indicator of family economic conditions and is used by economists and policymakers to assess the financial security of families and inform decisions related to social safety net programs and tax policy.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau from annual individual income tax returns.
Q: How is this trend used in economic policy?
A: This trend is used by economists, government agencies, and other stakeholders to monitor child poverty levels and inform policy decisions related to tax policy, social programs, and other initiatives aimed at supporting families and children.
Q: Are there update delays or limitations?
A: The data is released annually, and there may be a 1-2 year lag in the most recent figures being available.
Related Trends
Total Tax Exemptions Under Age 65 for New Jersey
LT65EXMNJ34A647NCEN
State Tax Collections: T22 Corporations in General License for California
QTAXT22QTAXCAT3CANO
State Tax Collections: T24 Motor Vehicles License for North Carolina
QTAXT24QTAXCAT3NCNO
State Tax Collections: T25 Motor Vehicle Operators License for Minnesota
QTAXT25QTAXCAT3MNNO
State Tax Collections: T51 Documentary and Stock Transfer Taxes for Wyoming
QTAXT51QTAXCAT3WYNO
Poverty Tax Exemptions for Massachusetts
PEXMMA25A647NCEN
Citation
U.S. Federal Reserve, Poverty, Child Tax Exemptions for Texas (PCHEXMTX48A647NCEN), retrieved from FRED.