The heart of President Biden’s State of the Union address came from a moment that honored Tyre Nichols and his parents. We have a collective moral responsibility to reckon with the epidemic of violence against Black people in our country. We must answer the call for action on policing and gun control that is long overdue. As Prosperity Now advances our mission to build a racially just economy where everyone can thrive, we also commit to building a society that recognizes the dignity of their lives and grants opportunity to all. 

The President also addressed an extensive economic agenda, including critical issues like livable incomes, the right to organize, paid sick days, affordable child care, and paid family and medical leave. While briefly mentioned, each of these policies would provide transformative economic power  to workers and families across the country, especially women of color.  

The President recognized the injustice of the tax code, calling for the ultra-wealthy and corporations to pay their fair share. Implementing an equitable tax code would allocate funds to invest in many of the programs our country desperately needs, like paid family and medical leave. He stayed firm in his support of reinstating the expanded Child Tax Credit (CTC) to cut child poverty. The success of the expanded CTC helped families make ends meet and gave local businesses a critical boost. At the end of 2021, with the American Rescue Plan expansion of the credit, 3.7 million children were kept out of poverty, including 163,000 Asian children, 737,000 Black children, and 1.4 million Latino children. reducing child poverty should always be a non-partisan issue and a priority for all elected officials. 

While the State of the Union celebrated some important achievements, it's crucial not to overlook other essential components of racial economic justice. From building a dignified immigration system to caring for our planet and ensuring everyone has access to the reproductive healthcare they need, our lives are more intersectional than ever. This intersection also includes affordable housing for all, especially low-income and BIPOC (Black, Indigenous and people of color) families. Homeownership is a crucial way to build wealth and close the racial wealth divide. We also know that increasing entrepreneurship opportunities, capital access and technical assistance for BIPOC business owners would be transformative. Finally, investing in Baby Bonds for children from low-wealth families, who are disproportionately Black, Brown and Indigenous, is an important step towards financial equity and racial justice.  

In his conclusion, President Biden said, “We are not bystanders of history. We are not powerless before the forces that confront us. It is within our power, of We the People.” We at Prosperity Now remain committed to staying in the battle for policy solutions that bring about true racial and economic prosperity for all. Join us.