Reading has a wide range of benefits for literacy, employment, and health as well as promoting cultural understanding. However, previous monitoring of reading in the US has been inconsistent, with some studies demonstrating large declines over time, and others suggesting engagement has not changed. We measure reading for pleasure and reading with children from 2003 to 2023, using a nationally representative sample from the American Time Use Survey (n = 236,270). We found marked declines in the proportion of individuals reading for pleasure daily in the US, with decreases of 3% per year (prevalence ratio = 0.97, 95% confidence interval = 0.97, 0.98, p < 0.001). There were disparities across population groups, with widening gaps for those of Black (vs. White) race, with lower education levels and less annual income. Our findings demonstrate the need for more targeted strategies to increase opportunities for reading for pleasure. Monitoring daily reading, and factors influencing reading, will be vital to understand the impacts of future policies.