Without protecting and expanding public pension systems, black retirees may lose much of the retirement security they have gained in the last 50 years, a new Demos report finds. The public sector has long been a strong source of employment for African Americans, with 21.2 percent of all black women and 15.4 percent of all black men working in the public sector.
In 2014, public pensions and Social Security together accounted for 57 percent of black retirees’ income compared to 49 percent for white retirees.
Washington, DC – Less than a day after his first nominee for Labor Secretary, Andrew Puzder, withdrew his name due to unprecedented opposition from workers, legislators and advocates, President Donald Trump announced his new choice to run the Department of Labor, Alexander Acosta. Tamara Draut, Vice President of Policy and Research at Demos, issued the follow statement:
New York, NY - With the House of Representatives poised to vote on H.R. 10, the Financial CHOICE Act, Amy Traub, Associate Director, Policy and Research at Demos, issued the following statement:
July 21, 2017 (New York, NY) – In honor of the sixth anniversary of the creation of the Consumer Financial Protection Bureau (CFPB), Tamara Draut, Vice President of Policy and Research, issued the following statement.
August 2, 2017 (New York, NY) – In response to reports today that the U.S. Department of Justice plans to investigate higher education institutions’ affirmative action policies, Heather McGhee, President of Demos and Demos Action, issued the following statement.
On August 31, Federal District Judge Amos Mazzant of Texas issued a ruling striking down the U.S. Department of Labor’s update to federal rules on overtime pay. Demos Associate Director of Policy and Research Amy Traub released the following statement:
Dēmos strongly supports updating federal regulations to restore and extend overtime protections. However, we urge the Department to finalize a stronger rule than the one proposed.
Today's ruling is a powerful affirmation: the CFPB stands as a fortress against financial predators, especially crucial for communities of color battered by decades of discriminatory banking practices.