There are numerous avenues to economic empowerment for families, particularly those from systematically disenfranchised and under-resourced communities.
Policy solutions, like tax credits and other redistributive policies, that foster liquidity and resources for Black Americans can significantly improve intergenerational economic mobility and mitigate the impacts of long-standing systemic deprivation.
At TEP, we are particularly interested in solutions that help Black families and communities meet their needs and build emergency cushions to alleviate the possibility of an emergency plunging low-income families into debt. Policy solutions should provide immediate relief to communities, power build, and foster the intergenerational transmission of income.
Redistributive spending is working. Get money into the hands of families, schools, and communities. Funding must extend far enough to prioritize the current needs of Black and Brown communities, like student loan forgiveness and tax credits.
Right now, the Child Tax Credit (CTC), a program that could be an invaluable resource to families with children, is at a make-or-break political moment. Will lawmakers codify a version of the CTC that provides desperately needed resources to the most vulnerable families across the country?
In fact, you can tell your members of Congress to restore the expanded Child Tax Credit with just one click.
Last week, TEP President Zakiya Jackson met with Advocacy and Training Associate Lena Anglin for an update on the political status of the Child Tax Credit and a broader discussion of how redistributive policies contribute to economic empowerment. We encourage you to check out their conversation for a deeper look and understanding.
Over the next few months, we’ll talk more about economic empowerment and what it means for Black and Brown children, along with children experiencing poverty and other forms of marginalization to have a clear path to financial security, stability, and thriving.