Strategies: Racial Wealth Building

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

Establish publicly funded investment accounts for every newborn, accessible at age 18

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

Provide financial assistance to working parents, or parents attending school, to pay for child care

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)

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

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

Support financial institutions providing services to underserved and disadvantaged communities

Purchase the land a home is on to lease to homeowners with low and middle incomes and require homeowners to sell the home back to the trust or to another resident with low income upon moving

Expand refundable earned income tax credits for working individuals and families with low to moderate incomes