[Congressional Record Volume 168, Number 115 (Wednesday, July 13, 2022)]
[Extensions of Remarks]
[Pages E724-E725]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




   RECOGNIZING THE WORK OF PETE KADENS AND HIS CHARITY PROJECT, HOPE 
                                CHICAGO

                                 ______
                                 

                        HON. RAJA KRISHNAMOORTHI

                              of illinois

                    in the house of representatives

                        Wednesday, July 13, 2022

  Mr. KRISHNAMOORTHI. Madam Speaker, today I rise to recognize and 
honor Pete Kadens, an entrepreneur and dedicated philanthropist in 
Chicago, and the work of his charity project, Hope Chicago. Mr. Kadens' 
remarkable commitment to transforming lives and communities is worthy 
of our highest praise.
  During his nearly two-decade-long career as an entrepreneur, Pete 
Kadens employed more than 5,000 people. Following several business 
successes, including starting SoCore Energy, one of the largest 
commercial solar companies in the U.S., Pete retired in September 2018, 
choosing to dedicate himself fully to giving back to all those in need. 
He currently serves as Chairman of the Kadens Family Foundation, a 
charitable organization that seeks to address wealth and education 
inequality.

[[Page E725]]

  Among Mr. Kadens' many efforts to give back, Hope Chicago is one 
project that stands out as a testament to the values of leadership, 
philanthropy, and selflessness that make America so great. Founded by 
Pete Kadens and businessman Ted Koenig, the Hope Chicago project aims 
to raise at least $1 billion over the next decade to fund post-
secondary scholarships and non-tuition costs for graduates of Chicago 
Public Schools and their adult family members who are eager to return 
to school and update their own skills.
  At a time when we are all fighting to create a more equitable economy 
and expand pathways into the middle class, removing barriers to 
educational attainment is critical. This is especially true in light of 
our nation's student loan crisis, which has saddled far too many 
Americans with crippling debt and made the prospect of post-secondary 
education even more out of reach for many low-income, first-generation 
students. It is estimated that 9 in 10 low-income, first-generation 
students drop out of higher education without a degree, and in my home 
state of Illinois, 61 percent of college grads who do earn a degree 
leave with debt. College is supposed to be a great equalizer in our 
country. Instead, these statistics provide a picture of higher 
education that exacerbates inequality between the haves and have-nots 
across America.
  While we face significant challenges in overcoming this issue, 
leaders like Pete Kadens have committed to doing the hard work needed 
to create more opportunities for disadvantaged youth to obtain an 
advanced education. With the support and investment of partner schools 
and colleges, nonprofits, and corporate and philanthropic donors, Hope 
Chicago is fostering multigenerational change by working to enable 
approximately 30,000 individuals in the City of Chicago to go to 
college or trade school during the next decade. Just this year, Pete 
announced that Hope Chicago would cover full tuition costs for students 
at five high schools across Chicago, There is a long way to go, but the 
spirit of service that inspires this project is already transforming 
countless lives.
  We could all benefit by dedicating our own time and resources to the 
cause of expanding opportunity for those in need and following the 
example set by Pete Kadens and Hope Chicago to create an America that 
prioritizes equitable access to education for all its children. After 
all, our future depends on it.

                          ____________________