Strategies: Racial Wealth Building

Evidence-informed strategies to close the racial wealth divide. These solutions account for historical practices that established and maintain the wealth divide– and reduce wealth inequities by increasing income and assets, expanding employment opportunities, removing barriers to quality education, and increasing access to homeownership. 

43 Strategies

Adult vocational training

Support acquisition of job-specific skills through education, certification programs, or on-the-job training, often with personal development resources and other supports
Evidence Rating:
Scientifically Supported

Community Conditions

  • Income, employment and wealth

Baby bonds

Establish publicly funded investment accounts for every newborn, accessible at age 18
Evidence Rating:
Expert Opinion

Community Conditions

  • Income, employment and wealth

Societal Rules

  • Budgets

Career & technical education for high school completion

Provide career and technical education (CTE) as an integrated part of an academic curriculum for students, especially those at risk of dropping out of high school; also called vocational training
Evidence Rating:
Scientifically Supported

Community Conditions

  • Education

Career pathways programs

Provide occupation-specific training for low-skilled individuals in high-growth industries, with education and supports, usually with stackable credentials and work experience opportunities
Evidence Rating:
Expert Opinion

Community Conditions

  • Income, employment and wealth

Child care subsidies

Provide financial assistance to working parents, or parents attending school, to pay for child care
Evidence Rating:
Scientifically Supported

Community Conditions

  • Income, employment and wealth

Societal Rules

  • Budgets

Child development accounts

Build assets through child development accounts (CDAs) with contributions from a sponsoring organization, such as government agencies or nonprofits, and family, friends; also called children’s savings accounts (CSAs)
Evidence Rating:
Expert Opinion

Community Conditions

  • Income, employment and wealth
  • Education

Societal Rules

  • Budgets

Child tax credit expansion

Expand federal or state child tax credits by increasing credit amounts, making credits refundable, decreasing or eliminating the earnings threshold, or creating a fully refundable supplement
Evidence Rating:
Expert Opinion

Community Conditions

  • Income, employment and wealth

Societal Rules

  • Laws and policies

College access programs

Help high school students prepare for college, complete applications, and enroll, especially first-generation applicants and students from families with low incomes
Evidence Rating:
Scientifically Supported

Community Conditions

  • Education

Community Development Block Grants (CDBGs)

Provide funding for local community development activities such as affordable housing, anti-poverty programs, and infrastructure development
Evidence Rating:
Some Evidence

Community Conditions

  • Housing and transportation
  • Civic and community resources

Societal Rules

  • Budgets

Community Development Financial Institutions

Support financial institutions providing services to underserved and disadvantaged communities
Evidence Rating:
Expert Opinion

Community Conditions

  • Income, employment and wealth
  • Civic and community resources

Societal Rules

  • Institutional practices