INCLUSIVE ECONOMY
Economic equity is crucial to racial equity. An inclusive economy means everyone can contribute and earn with fair access to resources and opportunity.
THE CHALLENGE
The so-called American dream is out of reach. A great deal of research confirms what we already know — investments in communities of color are paramount to mitigating racism and historic disinvestment. Existing policy is insufficient.
- White families typically make 10 times that of Black families, one of many financial gaps that come from decades of discriminatory policies and nearly three centuries of slavery.
- There are extreme disparities in employment, home ownership, and housing affordability in the Black community.
- Closing the revenue gap between Black and white businesses would generate an additional $290 billion for the U.S. economy.
The lack of racial equity in how the American economy functions severely impacts Black people, who are systematically restricted from being fully realized participants. Economic equity is a crucial part of establishing holistic racial equity for Black people. It’s not just important that Black people be able to contribute to the economy as workers and consumers, but also as owners with the same access to resources and chance at success as anyone.
10x
White families typically make 10 times that of Black families
CONNECTING TO OUR FINANCIAL FUTURE
Economic equity is a crucial part of establishing holistic racial equity for Black people. It’s not just important that Black people be able to contribute to the economy as workers and consumers, but also as small business owners with the same access to resources and chance at success as anyone. Get started by taking control of your credit journey.
WHAT WE’RE FIGHTING FOR
PAVING THE WAY FOR BLACK BUSINESSES
NAACP Empowerment Programs and Hello Alice have joined forces to support Black business owners proactively and advance economic equality for Black communities. With Black business ownership declining more than 40% between February and April of 2020, this is a pivotal step towards putting Black business at the forefront of our economy.
In partnership, we pledge to continue providing a growing resource of money, networks, and opportunities for Black business owners in America.
44%
of the Hello Alice platform identify as Black business owners.
INCLUSIVE ECONOMIC POLICIES
Accelerating an inclusive economy requires bold policy solutions, and a sustained and comprehensive multi-sector approach — working alongside community leaders, elected officials, and allies to close opportunity gaps.
President Biden should accelerate compassionate release consideration of all federal prisoners over the age of 60 and order the immediate release of as many people as possible.
Police agencies without the policies, training, and databases in place should not be able to receive grants and other funding. Other practices to increase police accountability include an end to qualified immunity and a national database to document violent and fatal encounters with police.
A vision and strategy for securing strong, diverse representation on the courts for decades to come that includes civil rights lawyers is long overdue.
Congress must fund local communities to respond to resident’s mental health and substance abuse needs.
President Biden must direct the Attorney General to instruct federal prosecutors to refrain from engaging in practices that lead to higher sentences, such as seeking sentencing enhancements or life without the possibility of parole for young people.
Conduct an audit of all federal agencies to strengthen their civil rights and health equity efforts in implementing federal policies and programs.
Develop and disseminate an education and outreach campaign that provides clear, comprehensive, and culturally meaningful information about vaccines and therapeutics prior to and during their distribution. Implement a vaccine and therapeutics distribution plan that aligns with data-driven need, incorporates appropriate monitoring of and treatment for vaccinated persons over time, and requires no out-of-pocket costs.
Guarantee all people in the US can obtain physical, mental, and oral health care when they need it regardless of their coverage, employment, financial, or immigration status.