The Biden administration should implement its public credit registry proposal to shift power away from an oligopoly that exercises inordinate control over consumers’ financial prospects and towards a fairer system that better respects consumers and reduces racial inequality.
Caregiving work has historically been undervalued. Today, Black women are disproportionately employed in caregiving work and facing the worst of the COVID-19 economic crisis.
An executive action for student debt cancellation would provide much needed economic relief to millions of Black and Latinx families in order to avoid financial catastrophe during the continuing global pandemic.
Credit reports and scores control access to public goods people need. Yet, in the midst of a global pandemic and economic collapse, remaking the nation’s credit reporting system is not the top concern.
It is more vital than ever that Black- and brown-led organizations have the resources they need to combat the many issues confronting their communities and to build durable and sustainable power.
If we are to survive this crisis—and imagine a more equitable, dynamic economy to come, we must start with a recommitment to the value of universal, inclusive public infrastructure.
Written testimony of Demos President K. Sabeel Rahman before the US House of Representatives Committee on the Judiciary Subcommittee on Antitrust, Commercial and Administrative Law
At the Democratic National Convention, former First Lady Michelle Obama made a point that is relevant to both parties: If policymakers do not take bold and transformative action, trends can and will get worse.
"To say that people post-crisis, as they try to rebuild their lives, have to carry the impact of this is just another round of disadvantage and discrimination.”
The COVID-19 crisis has cast into stark relief what has always been true: the wealth and prosperity of the U.S. economy rests on the labor, and the lives, of black and brown communities.
Rather than cutting funds for public needs while allowing police budgets to swell, cities, states, and the federal government must shift funding to the real priorities of communities.
The ongoing devaluing of Black life that’s now on full display forces us to confront America’s racist origins and to uproot our systems of racial violence, economic subordination, and hoarding of political power.
Twelve years after starting college, white men have paid off 44% of their student loan balances on average, while black men saw their balances grow by 11%, according to an analysis from Demos.
Twelve years after starting college, the white female borrower has paid off 72% of her loan balance. Over the same time period, the typical Black female borrower's balance has grown by 13%.
Private credit reporting companies should be replaced by a publicly run credit registry that operates in the public interest and that automatically corrects for events like natural disasters and global health crises.
The Postal Service faces a $13 billion revenue loss this fiscal year alone; If the Postal Service is allowed to fail, it will be a tremendous blow to all Americans.