[Congressional Record Volume 164, Number 24 (Wednesday, February 7, 2018)]
[Extensions of Remarks]
[Page E151]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                ECONOMIC JUSTICE IN THE BLACK COMMUNITY

                                 ______
                                 

                               speech of

                          HON. MARCIA L. FUDGE

                                of ohio

                    in the house of representatives

                        Monday, February 5, 2018

  Ms. FUDGE. Mr. Speaker, during the State of the Union speech last 
week, many of us did not applaud the President as he assumed 
responsibility for the lowest rate of Black unemployment ever recorded. 
The simple truth is that while Black unemployment reached its lowest 
level in decades, the rate has been in steady decline for the last 
seven years, a credit to the Obama Administration President Trump so 
often maligns.
  It is also true that while gains have been made, the Black 
unemployment rates fall short of that for White workers. The President 
has failed to acknowledge that just in the last month, Black 
unemployment jumped nearly a full percentage point, from 6.8 percent to 
7.7 percent, and continues to be nearly double that of White workers.
  If Black unemployment figures were the overall national figures, the 
country would be facing or nearly facing an economic recession, Yet, 
this Administration's policies continue to take aim at too many of us, 
especially African Americans and other communities of color.
  Black unemployment has consistently been about double that of white 
employment. Sadly, other statistics mirror what amounts to a persistent 
racial wealth divide:
  90 percent of White households live above the poverty line compared 
to 75 of Black households;
  71 percent of White households are homeowners compared to 41 percent 
of Black households; and
  In 2016, white families had a median net worth of $171,000, compared 
with $17,600 for Black families.
  There is no doubt the persistent wealth disparity is rooted in 
federal policies that build and preserve the racial wealth divide since 
the institution of slavery. The Social Security Act of 1935 provides 
just one example. The Act's passage laid the groundwork to aid the 
elderly after the Great Depression. Yet, the Act excluded about one-
third of all American workers, including farmworkers and domestic 
workers--who were predominately people of color. For African Americans, 
the cost of exclusion from the Social Security Act of 1935 resulted in 
a loss of benefits totaling $143.2 billion in 2016 dollars.
  Similarly, federal housing policies from 1934 to 1968, which sought 
to make homeownership accessible to more families, shut out black 
families from homeownership through the practice of redlining.
  Unfortunately, the racial wealth gap shows no sign of letting up 
under the Trump Administration. His economic policies offer dim 
prospects for African Americans and other communities of color.
  The President's lopsided tax cut transferred massive amounts of 
wealth to those who are already wealthy at the expense of everyone 
else. The tax cuts add at least $1.5 trillion to the national deficit, 
with likely offsets to earned benefits and social safety net programs 
like Medicare, Medicaid, and SNAP--programs many families depend on. 
The cuts rob the American people of resources that could put people to 
work building infrastructure, or be invested in public education, child 
care, and health care.
  Trump's first year budget was equally alarming. Proposed cuts to the 
Minority Business Development Agency, Community Development Block 
Grants, and the Economic Development Administration, among countless 
others, will almost certainly diminish the ability of underserved 
communities to get ahead .
  These are not the actions of an Administration interested in helping 
all Americans. It is time the Trump Administration and Republicans in 
Congress start acting on behalf of all Americans, and not just a few. 
It is time to turn words, cheers, and applause into meaningful action 
and help ensure economic justice for all.

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