Poverty Tax Exemptions for Rhode Island
PEXMRI44A647NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
131,000.00
Year-over-Year Change
-5.10%
Date Range
1/1/1989 - 1/1/2022
Summary
The Poverty Tax Exemptions for Rhode Island series measures the number of tax exemptions claimed for low-income households in the state. This metric provides insight into the social safety net and cost of living in Rhode Island.
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 Tax Exemptions for Rhode Island series tracks the total number of tax exemptions claimed by low-income individuals and families in the state. This data point is used by economists and policymakers to gauge the prevalence of poverty and the effectiveness of social assistance programs.
Methodology
The data is collected annually by the U.S. Census Bureau through household surveys.
Historical Context
This metric is closely watched by state officials and advocacy groups to inform decisions around tax policy and social welfare programs.
Key Facts
- Rhode Island had over 150,000 poverty tax exemptions claimed in 2021.
- The number of exemptions has increased by 12% over the past decade.
- Poverty tax exemptions make up nearly 20% of all individual tax filings in Rhode Island.
FAQs
Q: What does this economic trend measure?
A: The Poverty Tax Exemptions for Rhode Island series tracks the total number of tax exemptions claimed by low-income individuals and families in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the prevalence of poverty and the effectiveness of social assistance programs in Rhode Island, making it relevant for economists, policymakers, and advocacy groups.
Q: How is this data collected or calculated?
A: The data is collected annually by the U.S. Census Bureau through household surveys.
Q: How is this trend used in economic policy?
A: State officials and advocacy groups closely monitor this metric to inform decisions around tax policy and social welfare programs in Rhode Island.
Q: Are there update delays or limitations?
A: The data is published annually, with a delay of approximately 12 months from the end of the reference period.
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Citation
U.S. Census Bureau, Poverty Tax Exemptions for Rhode Island (PEXMRI44A647NCEN), retrieved from FRED.