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. 

42 Strategies

Health career recruitment for minority students

Recruit and train underrepresented minority (URM) students for careers in health fields via information about health careers, classes, practicum experiences, advising about college or medical school admissions, etc.
Evidence Rating:
Scientifically Supported
  • Education

Transitional and subsidized jobs

Establish time-limited, subsidized, paid jobs to help individuals with barriers to employment transition to unsubsidized employment
Evidence Rating:
Scientifically Supported
  • Employment

Individual Development Accounts (IDAs)

Support subsidized asset accumulation programs in which deposits by low and moderate income participants are matched by program sponsors; withdrawals must be used for qualified expenses to retain matching funds
Evidence Rating:
Some Evidence
  • Income

Minimum wage increases

Increase the lowest hourly, daily, or monthly compensation that employers may legally pay to workers
Evidence Rating:
Mixed Evidence
  • Income

Living wage laws

Establish locally mandated wages that are higher than state or federal minimum wage levels
Evidence Rating:
Some Evidence
  • Income

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
  • Income

Full child support pass-through and disregard

Adopt policies that allow custodial parents who receive Temporary Assistance for Needy Families (TANF) to collect all child support paid by the non-custodial parent; no portion is retained by the state
Evidence Rating:
Scientifically Supported
  • Income

Unemployment insurance (UI)

Increase compensation provided to unemployed workers looking for jobs by expanding eligibility, amount, or duration of benefits
Evidence Rating:
Some Evidence
  • Income

Earned Income Tax Credit (EITC)

Expand refundable earned income tax credits for working individuals and families with low to moderate incomes
Evidence Rating:
Scientifically Supported
  • Income

Paid family leave

Provide employees with paid time off for circumstances such as a recent birth or adoption, a parent or spouse with a serious medical condition, or a sick child
Evidence Rating:
Scientifically Supported
  • Employment