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Dear John,
As we enter the season of Thanksgiving, we are so grateful to be here, together, working toward an economy that creates pathways for people of color to build and sustain wealth. We are especially thankful to have your passion and participation in this fight with us.
We believe we are on the precipice of monumental change.
In the past few years, the U.S. has made important strides in improving economic conditions for vulnerable families with policies Prosperity Now has been championing for decades. One of our recent notable successes is the 2019 Taxpayer First Act that permanently funded the Voluntary Income Tax Assistance (VITA) [[link removed]] program [[link removed]], which helps vulnerable families keep more of their hard-earned money. In FY2021, clients received $2.8 billion in refunds. Another important policy win was the Child Tax Credit, which lifted 3.7 million children out of poverty as part of the 2021 American Rescue Plan. Additionally, the Minority Business Development Agency (MBDA) was codified into law last year, supplying critical funds for BIPOC small business owners.
Currently, Baby Bonds and Children’s Savings Accounts are policy tools gaining traction to close the racial wealth gap by providing young people from low-income families with a nest egg to attain financial security and build wealth.
Challenges remain. Transforming centuries of structural racism in our financial institutions and policies is a big, bold goal. We are undaunted. We will only be successful with strong support from our community. Your support gives us the resources needed to incubate, test and scale new and innovative solutions and achieve more wins that can instigate transformative change.
With your help, we can drive massive change for racial economic justice in this country. Thank you for being part of this fight.
Sincerely,
Gary Cunningham
President & CEO
Prosperity Now
P.S. It’s the season of Thanksgiving and I want to be sure you know how grateful we are for your past, present, and future support of our work. Transforming our economy and centering the people who have been historically excluded is a big, bold goal and we can only do it with help from people like you. Thank you.
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