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John,
WOW! What a month it has been at Prosperity Now and for the racial economic justice field! Firstly, I want to express my gratitude to our partners and friends for such a warm welcome as I stepped into the role of President and CEO of Prosperity Now. With one month under my belt, I am more energized to build new relationships and deepen our existing partnerships in service of a better economy that can truly work for all of us.
In this season of love, friendship and family, I am excited to see progress at the state and national level on child and family wealth building policies. Just in the last couple of weeks, we celebrated the House passage of the expanded child tax credit [[link removed]] and are pushing the Senate to keep going [[link removed]] for the families that could be lifted out of poverty if this bipartisan legislation passes. We fought #ForEveryKidsFuture in Massachusetts during an event co-hosted with the Midas Collaborative [[link removed]], walking the halls of the State House and speaking with 23 legislative offices in support of Baby Bonds and Matched Savings programs. And most recently, with The New School’s Institute on Race, Power, and Political Economy, we updated our report, A Brighter Future with Baby Bonds: How States and Cities Should Invest in Our Kids, [[link removed]] outlining the essential elements for crafting effective Baby Bonds proposals and what we’ve learned over the last couple years of monumental Baby Bonds growth.
Amid all this progress, our staff remains hard at work planning our 2024 Prosperity Summit, which is just 7 months away! We recently shared our call for proposals and I hope you’ll consider submitting a proposal [[link removed]]. Presenting at the Summit is an opportunity to highlight your learnings, build your network, and engage in discussions with our field’s leading racial wealth equity and economic opportunity advocates and professionals. This year, we’ll plan to feature workshops led by community leaders, our signature Capitol Hill Day, and as always, dynamic main stage plenaries.
John, I’m encouraged by how much we’ve already been able to accomplish together. I’m confident we can create a bolder now for our communities making ends meet toward a more prosperous and equitable tomorrow. Thank you for your partnership and everything you do for children and families.
Looking forward,
Marisa Calderon
President & CEO
Prosperity Now
Showing Baby Bonds Some Love This Month
Baby Bonds programs are on the rise, and we’ve learned a lot in the last couple years about what it takes to design and implement a successful program. We’ve taken these learnings and updated our report, A Brighter Future With Baby Bonds: How States and Cities Should Invest in Our Kids [[link removed]] in partnership with the Institute on Race, Power and Political Economy. We see no better way to celebrate "love season" than with Baby Bonds!
Read the Full Baby Bonds Report Here [[link removed]] From Harlem to DC, Building Power in Black Communities Starts with Investments in Black Communities
The Black community’s cultural and economic impact can be seen and felt across the nation. But despite these efforts, they continue to be overlooked and pushed out of opportunity, emphasizing the need to continue to fight for change that will bring about true power and freedom for Black families in America.
This Black History Month, Black leaders continue to make history! We spoke with two organizations based in Harlem, NY and Washington, DC, that are working to provide economic resources and fuel economic mobility for the Black community and more. Read more on how political participation, intentional investments in people (and not corporations), and community partnerships get us closer to racial justice.
Read the Full Blog Here [[link removed]] Tracing the Evolution of Racial Wealth Inequality and Economic Mobility in America
For Black History Month, Prosperity Now has reviewed recent economic studies that take a historical perspective on racial wealth inequality and economic mobility in the United States. These studies combine multiple sources of data to uncover historical trends in Black-White economic disparities from the late 19th century to today.
We learn from these studies that despite some economic progress in closing the gap between Black and White Americans over the long run, the economic divide has persisted, with White Americans still possessing on average six times the wealth of Black Americans nowadays, and poorer White children consistently having better opportunities to move up the ladder than their Black counterparts.
Read the Full Article Here [[link removed]] Tell Your Senators: The Child Tax Credit Works!
Recently, the House of Representatives passed a bipartisan expansion of the child tax credit. This is HUGE, but we need to make sure Senators know it’s their turn to take action and help raise half a million kids out of poverty.
Click here to tell your Senator that children and families need their help today! [[link removed]] Financial Empowerment for the UnderservedAn Interview with Adrian Gomez of United Way of Pueblo County, Bank On Pueblo County
United Way of Pueblo County serves as a trusted community leader by leveraging resources in support of collaborative solutions around crisis intervention, youth success, economic mobility and opportunity, and nonprofit capacity development. The organization, a Prosperity Now Community Champion, fills a critical role in addressing financial capability challenges for underserved populations, including BIPOC communities and migrant farm workers. Read more about their work below and check out other Prosperity Now Community Champion spotlights here [[link removed]].
Read More Here [[link removed]]
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