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The January 2024 poverty guidelines are calculated by taking the 2022 Census Bureau’s poverty thresholds and adjusting them for price changes between 2022 and 2023 using the Consumer Price Index (CPI-U).
Poverty thresholds and poverty guidelines are dollar amounts set by the U.S. government to indicate the least amount of income a person or family needs to meet their basic needs. People whose income falls below the specified amount are considered low income.
The poverty threshold, poverty limit, poverty line, or breadline[1] is the minimum level of income deemed adequate in a particular country. [2] . The poverty line is usually calculated by estimating the total cost of one year's worth of necessities for the average adult. [3] .
The federal poverty level is the guideline that determines who receives assistance. It's used for Medicaid, food stamps, ACA, and other federal programs.
Poverty thresholds are the dollar amounts used to determine poverty status. The Census Bureau assigns each person or family one out of 48 possible poverty thresholds. Thresholds vary by the size of the family and age of the members.
This report presents poverty estimates using two measures, the official poverty measure and the Supplemental Poverty Measure (SPM). The official poverty measure, in use since the 1960s, defines poverty by comparing pretax money income to a poverty threshold that is adjusted by family composition.
What are the differences between the poverty guidelines and the poverty thresholds? Poverty thresholds are used for calculating all official poverty population statistics — for instance, figures on the number of Americans in poverty each year. They are updated each year by the Census Bureau.
There are two slightly different versions of the federal poverty measure: The poverty guidelines. The poverty thresholds are the original version of the federal poverty measure. They are updated each year by the Census Bureau.
Poverty thresholds are used for calculating all official poverty population statistics — for instance, figures on the number of Americans in poverty each year. They are updated each year by the Census Bureau.
This paper explores using Fair Market Rent data to geographically adjust poverty thresholds and estimate Supplemental Poverty Measure rates.