Philanthropy News Digest: White supremacy is the pre-existing condition: eight solutions to ensure economic recovery reduces the racial wealth gap

Philanthropy News Digest, June 27, 2020: White supremacy is the pre-existing condition: eight solutions to ensure economic recovery reduces the racial wealth gap

The report, White supremacy is the pre-existing condition: eight solutions to ensure economic recovery reduces the racial wealth gap, calls for better data disaggregated by race/ethnicity to assess the health and economic impacts of the pandemic and government stimulus programs enacted in response to those impacts; a “racial wealth edit” to assess how individual economic recovery programs are likely to affect the racial wealth divide; and transitioning emergency income support into a universal basic income that is set above the federal poverty line. Other policy proposals for narrowing the racial wealth divide include expanding the U.S. Postal Service’s mandate to provide financial services for the un- and under-banked as an alternative to predatory lenders; implementing “Medicare for All” to unlink health insurance from employment and ensure healthcare access for more Americans; increasing the supply of affordable rental housing and supporting homeownership; establishing a government¬†jobs program; and providing every newborn with a “baby bond” that can be used for wealth-building investments in adulthood.

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