Asset and Wealth Building Policy Guide

Copyright
2021
Published By
Well Being In the Nation Network

There is a large wealth gap in the United States. Typical White households hold 10 times the wealth of typical Black households. Black families with kids have a single penny in wealth for every dollar that White families with kids have. And White high-school dropouts have on average higher net worth than Black college graduates. Even when they earn very high incomes, many Blacks end up with far less wealth than their White peers. That’s in part because Black workers tend to offer more financial support to relatives. It is also because Black kids are more likely to need big student loans to pay for college. All these things add up to less money in a savings account or in the stock market. The means there is less money to pass along to children.  


Today’s racial wealth inequality is due to years of government policy. This gap is not from different actions and choices of Black and White individuals. For example, our
tax system leads to racial wealth inequality. The U.S. doesn’t have significant taxes on inheritances, so White people’s wealth passes down through generations. The home-mortgage interest deduction also benefits White people who are more likely to own homes. The college-savings program also benefits White families who are more likely to save for and attend college. Beyond taxes, fines-and-fees policing, for instance, impact Black Americans more than Whites.

The below policies would help reduce the wealth gap between Black and White Americans.

Resources & Tools


Graphic displaying title of policy 'Implement a Good Neighbor Next Door Program'
Implement a Good Neighbor Next Door Program
Resource - Policy Brief
Published on 04/16/2021
Graphic displaying title of policy 'Expand Job-based Retirement Benefits'
Expand Job-based Retirement Benefits
Resource - Policy Brief
Published on 04/16/2021
Graphic displaying title of policy 'Reform Government Fines and Fees'
Reform Government Fines and Fees
Resource - Policy Brief
Published on 04/16/2021
Graphic displaying title of policy 'Provide Relief for Medical Debt'
Provide Relief for Medical Debt
Resource - Policy Brief
Graphic displaying title of policy 'Encourage Saving for College Through a Children’s Savings Account'
Encourage Saving for College Through a Children’s Savings Account
Resource - Policy Brief
Published on 04/16/2021
Graphic displaying title of policy 'Increase Access to Banks'
Increase Access to Banks
Resource - Policy Brief
Published on 04/16/2021
Graphic displaying title of policy 'Expand Shared Equity Programs for Homebuyers'
Expand Shared Equity Programs for Homebuyers
Resource - Policy Brief
Published on 04/16/2021
Graphic displaying title of policy 'Implement Post Office Banking Services'
Implement Post Office Banking Services
Resource - Policy Brief
Published on 04/16/2021
Graphic displaying title of policy 'Expand Chances for Tenants to Purchase Homes'
Expand Chances for Tenants to Purchase Homes
Resource - Policy Brief
Published on 04/16/2021
Graphic displaying title of policy 'Expand Housing Counseling'
Expand Housing Counseling
Resource - Policy Brief
Published on 04/16/2021
Graphic displaying title of policy 'Implement Portable Job Benefits'
Implement Portable Job Benefits
Resource - Policy Brief
Published on 04/16/2021
Graphic displaying title of policy 'Implement Baby Bonds'
Implement Baby Bonds
Resource - Policy Brief
Published on 04/16/2021
Graphic displaying title of policy 'Expand Down Payment Assistance for Home Buyers'
Expand Down Payment Assistance for Home Buyers
Resource - Policy Brief
Published on 04/16/2021
Graphic displaying title of policy 'Student Debt Cancellation'
Student Debt Cancellation
Resource - Policy Brief
Published on 04/16/2021

Data & Metrics


Advancing Equitable Economies Policy Library logo
Advancing Equitable Economies Policy Library
Library
Published on 04/20/2021
Banner graphic reads Campus Well-Being" with a photo of two Black college students walking and talking." style="margin: 0 auto;">