2021 Population Estimates: Impact on Bond Caps, Social Services Block Grant Allocations
The U.S. Census Bureau released state resident population estimates for July 2021 and revised estimates for July 2020. The new data identify population shifts and are used in certain formulas. They are also the first set of population estimates to incorporate data from the 2020 decennial census.
The national population has been growing at historically low rates recently. This long-term trend, combined with the impact of the COVID-19 pandemic, resulted in a population increase of 0.12% between 2020 and 2021, the smallest increase on record. Seventeen states, the District of Columbia, and Puerto Rico registered population declines.
This Issue Brief summarizes the new population estimates and calculates their effect on calendar year (CY) 2022 tax-exempt private activity bond limitations and fiscal year (FY) 2023 Social Services Block Grant (SSBG) allocations.