In Support of Addressing Equity and Closing the Racial Wealth Gap
Adopted at the in 2021
WHEREAS, it is the responsibility and duty of all levels of government to ensure that workers have access to quality jobs with the benefits they need, a safety net in times of hardship, access to valid work authorization, and pathways to asset ownership; and
WHEREAS, at least four in ten Latinx, Black, and Native American households report using all or most of their household savings during the pandemic; and
WHEREAS, income inequality is rising nationwide, and is starkest in communities such as Asian Americans; and
WHEREAS, Black workers continue to face a disproportionate share of the pandemic's economic and public health burden, with an unemployment rate 5.6 percentage points greater than the pre-pandemic economic peak; and
WHEREAS the Latinx population is disproportionately represented in employment sectors struggling to recover from the pandemic; and
WHEREAS, according to the Federal Reserve, prior to the pandemic the typical White family has eight times the wealth of the typical Black family and five times the wealth of the typical Hispanic family, and Asian and Native American families have lower wealth than White families but higher wealth than Black and Hispanic families; and
WHEREAS, research makes clear that the intersectionality of race with gender, socioeconomic status, immigration status, LGBTQIA+, ability, returning citizen status, veteran status and/or age can exacerbate this wealth gap,
NOW, THEREFORE, BE IT RESOLVED, that The United States Conference of Mayors, as the leaders of cities and towns across the U.S., affirms its commitment to address the structural economic systems and failed policies that put millions of residents in economic hardship prior to the pandemic and that has since been exacerbated; and
BE IT FURTHER RESOLVED, that all levels of government prioritize policy interventions that make a meaningful impact on the economic well-being of the individuals and businesses that have been most disadvantaged; and
BE IT FURTHER RESOLVED, that The United States Conference of Mayors applauds the leadership of the Biden-Harris Administration and its commitment to narrow the racial wealth gap through the American Jobs Plan and the call for a new Community Revitalization Fund to support community-led civic infrastructure; and
BE IT FURTHER RESOLVED, that all cities take note and explore innovative economic development approaches that build community wealth, activate vacant land, prevent displacement and strengthen social cohesion, including supporting models of local, shared and democratic ownership of community assets; and
BE IT FURTHER RESOLVED, that all cities invest in equitable transit-oriented development projects that enable all people to experience the benefits of dense, mixed-use, pedestrian-oriented development near transit hubs, making all communities more walkable, accessible, and affordable; and
BE IT FURTHER RESOLVED, that The United States Conference of Mayors calls on Congress and the federal government to robustly fund and otherwise bolster federal efforts to provide workforce development giving Americans in disinvested communities the skills and opportunities to take advantage of new opportunities that will emerge; and
BE IT FURTHER RESOLVED, That all cities develop strategies to expand homeownership opportunities, especially to first-time homebuyers and racial minorities, through expanded purchase price assistance and reduced construction barriers for new affordable housing stock; cities build community wealth through pathways from affordable rental housing to homeownership and develop community land trusts and co-operative housing; and
BE IT FURTHER RESOLVED, that all cities develop strategies to increase municipal procurement from local small businesses, particularly where minority and women-owned business enterprises and/or worker cooperatives are the prime contractors; and that cities create public dashboards to demonstrate progress in this area; and
BE IT FURTHER RESOLVED, that the federal government be a partner in these endeavors, and that all levels of government look through racial equity and social justice lens to prioritize the needs and livelihoods of citizens living in disinvested communities in future planning and policies.