Economic Issues
The Issue: Economic Inequity
Economic inequality in America systematically restricts Black people from full participation. We all know – and research confirms – that existing economic policy is insufficient rather than inclusive.
There are extreme disparities in employment, homeownership, and housing affordability in the Black community. White families typically make 10 times that of Black families. That puts the so-called American dream out of reach for many in communities of color. We are in the fight to mitigate racism and historic disinvestment by advocating for significant economic policy change.
Establishing holistic economic equity with access to resources and opportunities for Black people is essential to ensure that they can fully and fairly contribute to the economy as workers, consumers, and owners without restriction. Closing the revenue gap between Black and white businesses would generate an additional $290 billion for the U.S. economy.
THE SOLUTION:
Fighting for an Inclusive Economy
Cincinnati NAACP serves as a hub for local citizen-led movements that help amplify the voice of workers in their right to earn livable wages and benefits with opportunities to acquire financing, build credit, develop assets, and create savings and other investments. Our efforts include:
- Fighting for economic inclusion through local investments in community-driven strategies and advancing policy, practice, and systems to close the racial wealth gap.
- Forging innovative partnerships to train workers for in-demand jobs and jobs of the future.
- Supporting local entrepreneurs and business owners to help create or retain jobs in our communities and grow a strong middle-class economy for Black people in Cincinnati.
Working alongside elected officials, community leaders, and allies to close opportunity gaps, we support a sustained and comprehensive multi-sector approach to driving an inclusive economy through bold policy solutions, including:
- Canceling student debt
- Fully covering unemployment insurance through federal funding
- Implementing a federal minimum wage
- Implementing universal paid sick leave
- Instituting a direct minority business contracting requirement for all federal agencies
- Increasing funding for community development financial institutions that serve black people
- Reversing racist housing policies
- Supporting black workers and incentivizing diverse and inclusive hiring and promotion practices
For more details on these policy recommendations, please visit the Inclusive Economy page on the National NAACP site.
