By Algernon Austin Download the PDF. Press release The 2014 implementation of the Affordable Care Act (ACA), also known as Obamacare, has had a promising start in providing health insurance for all Americans. All racial groups have experienced substantial increases in their health insurance coverage. Before the ACA was enacted, people of color were much
Given the country's changing demographics, the members of the Experts of Color Network would like to ask the Republican and Democratic presidential candidates 10 questions and get responses that include some of the facts and policy recommendations below. The network is part of the Closing the Racial Wealth Gap Initiative, which seeks to build awareness and support
The racial wealth gap experienced by communities of color represents one of the starkest points of economic inequality in the United States. When more people live in poverty with few or negative assets, our families, communities, democratic institutions, and economy are at risk.
The Chained CPI: Increasing Economic Inequality for African Americans finds that COLA decreases resulting from the chained CPI will disproportionately harm African Americans who have dramatically fewer sources of wealth to draw upon compared to whites. Almost half of African American seniors rely on Social Security for more than 90 percent of income in retirement due to lower levels of educational attainment, employment, earnings, and ownership of family assets such as homes, investments, savings accounts, businesses and other opportunities to build assets over time that ensure financial security in post-working years.
Read the Report As the United States to a “majority-minority” population over the next three decades, Social Security must be modernized to meet the needs of an increasingly diverse and economically insecure workforce. Although Social Security does not contribute to the federal deficit, Social Security benefit cuts are at the center of discussions in Congress to reduce the federal debt. Plan for a New Future: The Impact of Social Security Reform on People of Color (NOTE: Updated data is available below) argues that changes to the program must consider the impact on workers and families of color who are more vulnerable to economic instability and far less likely to have generational wealth than white families. The report cites U.S. Census Bureau data showing that a majority of babies born in this country are now from minority racial groups. If this trend continues, the overall U.S. population is expected to become “majority-minority” by 2042.