For Immediate Release
March 16, 2026
Contact:
Andrew Taranto
New York, NY (March 16, 2026) — The Federation of Protestant Welfare Agencies (FPWA) welcomes the release of the updated True Cost of Economic Security (TCES) data and report from the Urban Institute and commissioned by the National True Cost of Living Coalition led by FPWA and the Community Service Society of New York. The updated analysis finds that 49 percent of people in the United States lack the resources needed to achieve economic security, highlighting the growing gap between official poverty measures and the financial realities facing millions of families.
First launched in 2024, the TCES measure provides a more comprehensive understanding of what families truly need to meet everyday expenses, build savings, and plan for the future. The updated data incorporates new factors such as the value of homeowner-occupied housing and the costs associated with disability care, reinforcing what communities across the country have long experienced: even amid economic growth, far too many working families are not economically secure.
“This new data affirms what so many families have been living for years. Economic security is beyond reach for nearly half the nation,” said Jennifer Jones Austin, CEO and Executive Director of FPWA and Co-Chair of the National True Cost of Living Coalition. “The TCES measure allows us to see the full picture: families are not struggling because they make poor choices, but because the systems around them fail to keep pace with the real cost of living. It’s time to make economic security our nation’s governing standard and ensure that policies, legislation, and budgets support all Americans in achieving it.”
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The Federation of Protestant Welfare Agencies (FPWA) is a leading anti-poverty, social policy and advocacy organization dedicated to strengthening human services organizations and faith institutions and advancing economic opportunity and justice for New Yorkers with low incomes. Since 1922, FPWA has driven groundbreaking policy reforms to better serve those in need. We work to dismantle the structural and systemic barriers that impede economic security and well-being, and we strengthen the capacity of human services agencies and faith organizations so New Yorkers with lower incomes can thrive and live with dignity.
