COVID’s effects worsen America’s racial wealth gap: Blacks own 22 cents for every dollar held by whites Closing gaps would create 1.7 million jobs, add $300-450 billion to the economy
As the global pandemic continues to take lives and infect multiple generations, virtually every dimension of life is challenged. And people with the fewest financial resources before COVID-19 are being challenged more than ever before.
It is both a challenge and an opportunity for leadership in the Biden Administration, Congress, the Federal Housing Finance Agency, the Department of Housing and Urban Development, along with the private sector address to effect policies and practices that reverse the nation’s still-growing racial wealth gap. Tried and true wealth-building tools like targeted homeownership and expanded small business investments together would bring sustainable and meaningful changes to those who historically have been financially marginalized.