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Poverty can result in long-term social and economic costs for children and families, communities, and states. In 2006, more than 13 million children lived below the federal poverty level. Children who grow up poor are more likely to earn less as adults, complete fewer years of formal education, and face more health issues than children living in higher-income families. Poverty can also contribute to poor social, emotional, and behavioral outcomes for children and hinder cognitive development. In short, poverty has large repercussions for states and the nation, with childhood poverty alone estimated to cost the U.S. economy approximately $500 billion annually. To reduce poverty among children and families, state leaders can pursue several policy and program options. They can: - expand safety-net opportunities for families in crisis;
- increase the returns on work;
- promote savings and asset accumulation;
- improve the consumer environment in poor neighborhoods;
- increase access to education and training;
- improve access to work supports;
- invest in young children; and
- strengthen family relationships.
These strategies, particularly when combined together in a comprehensive approach, can help reduce the negative consequences of poverty for children and can result in opportunities for families to achieve economic success. State leaders can craft policies and programs that assist families in need of immediate help, that provide short-term assistance, and that address long-term needs. By supporting a wide range of approaches—including new programs, partnerships with the private sector, community-based efforts, and tax-based strategies—governors and other state leaders they can help improve the lives of children and families while strengthening local economies.
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