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Black America Benefits from President Biden Signing Inflation Reduction Act

NNPA NEWSWIRE — It includes strengthening critical provisions of the Affordable Care Act, providing Medicare with authority to negotiate certain prescription drug costs, and administration officials anticipate it will create jobs with family-sustaining wages.

Published

4 years ago

August 17, 2022

Stacy M. Brown

By Stacy M. Brown, NNPA Newswire Senior National Correspondent
@StacyBrownMedia

President Joe Biden on Tuesday signed the historic $750 billion Inflation Reduction Act into law, a major accomplishment for the administration and a Democratic Party that’s now looking with more optimism toward November’s crucial midterm elections.

The bill represents the most significant climate investment in U.S. history.

It includes strengthening critical provisions of the Affordable Care Act, providing Medicare with authority to negotiate certain prescription drug costs, and administration officials anticipate it will create jobs with family-sustaining wages.

Additionally, the law will reduce the national deficit.

Biden said new taxes would pay for the bill, including a 15% minimum tax on large corporations and a 1% tax on stock buyback.

Overall, it’s projected that the measure would result in the government raking in more than $700 billion over ten years while spending about $430 billion to help reduce carbon emissions and securing the extension of subsidies in the health care law.

“This legislation is a game changer. It will create jobs, lower costs, increase U.S. competitiveness, reduce air pollution, and, of course, tackle the climate crisis,” former Vice President Al Gore told The Climate 202.

“We have crossed a major threshold, and it’s going to have significant impacts on international climate action,” said Gore, long a crusader of environmental justice and a Nobel Prize winner for climate activism.

The new law should primarily assist African American families.

According to a study published by the Federal Reserve Bank of Minneapolis, Black households are more exposed to inflation fluctuations than their white peers.

Researchers concluded that if prices paid by white households increase by 7 percent over a year, calculations suggest that one may expect them to increase by 7.5 percent for Black families.

“In our research, we examine how this informs the trade-off between inflation and unemployment stabilization for White and Black households,” the study authors explained.

“The result implies that when evaluating trade-offs between inflation and unemployment, one ought to keep in mind that the costs of inflation may be borne disproportionately by the more disadvantaged group.”

With gas, food, and other prices rising, the authors concluded that necessities such as groceries, electricity, and wireless phone service make up a larger share of Black families’ budgets.

The study said that Black households also spend a more significant portion of their income on goods and services with prices that change more often.

The result, according to researchers, isn’t a mystery: “Black families will suffer the worst effects of rising inflation because they lag behind their White counterparts in income, wealth, financial savings and home ownership.”

Dr. Benjamin F. Chavis, Jr, NNPA President and CEO, emphasized, “Black America will definitely benefit economically and socially from the enactment of the Inflation Reduction Act. President Biden continues to keep his promise to our families and communities across the nation. We also note that Black-owned businesses, including the Black Press of America, will also have increased opportunities to expand economic development, innovation, advertising, and new workforce advances as a direct result of the Inflation Reduction Act.”

“Black families, especially those without an employed college graduate, are affected the most by inflation compared with all the other demographics,” said Ellie Walters, the CEO of Findpeoplefaster.com.

“Necessities like groceries, accommodation, gas, electricity bills and phone bills eat up most of their income, leaving them with fewer savings since most of them fall within the low-income groups,” Walters stated.

She said Black families are affected by even the slightest increase in price, and with the rising recession, many might have to live without most of these necessities.

“A large number of Black families live paycheck to paycheck and cannot easily escape the constantly increasing wealth gap between them and the other demographics, especially the white,” Walters remarked.

“Inflation often makes this dilemma worse, since during inflation, wages are cut, and workers are laid off. These low-income earners, largely made up of Black community members, are trapped by an economic cycle that seems rigged against them.”

Ronda Brunson, an expert in financial planning and credit restoration at Project Restore Bmore, agreed that Black households would continue to feel the impact of rising inflation.

“Most Black homes with car notes are paying double-digit interest rates, same for credit cards. Yet, we are not conditioned to go for better but to be grateful for whatever approval without contesting,” Brunson asserted.

“If I am already paying three times more than you for the same vehicle, then of course, when inflation occurs, I’m going to feel it first.”

According to the Brookings Institute, the median wealth of a white household is $188,200, which is 7.8 times more than the average Black household at $24,100.

Two years ago, the homeownership rate for white Americans was about 73% compared to 42% for Black Americans.

Stacy M. Brown

Posts by Stacy M. Brown

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Smooth Ride! Car Suspension & Comfort Tested #shorts

Smooth suspension meets surprisingly spacious legroom. Experience true comfort on any road!

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1 month ago

October 4, 2026

Oakland Post

Car suspension test demonstrating a smooth ride, comfort features, and handling on various terrains.

Experience the difference smooth suspension makes on rough streets. Check out the surprisingly good second-row legroom – test it yourself for true comfort.

Watch the full video: https://youtu.be/l9Z571za5Gc

#AutoNetwork

Oakland Post

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61 years since Selma, Houston leaders say the bridge remains to be crossed

61 years after Selma, Houston leaders say the fight for equality continues. The issues that sparked the marches still impact Black Americans today.

Published

1 month ago

October 4, 2026

Oakland Post

Houston leaders discuss the ongoing struggle for civil rights 61 years after Selma, emphasizing the need for continued action.

It has been 61 years since the Selma marches. But political leaders in Houston say that the issues protesters were marching for still plague the lives of Black Americans.

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Here is what you need to know about finding unique white elephant gift ideas that everyone wants to steal

The best white elephant gift ideas are funny enough to get a reaction but useful enough that people actually want to steal them. Look for gifts with a surprise factor, broad appeal, an inside joke, and just enough personality to spark some friendly competition. The wrapping paper comes off, the room goes quiet for half […]

Published

1 month ago

October 4, 2026

Oakland Post

The best white elephant gift ideas are funny enough to get a reaction but useful enough that people actually want to steal them. Look for gifts with a surprise factor, broad appeal, an inside joke, and just enough personality to spark some friendly competition.

The wrapping paper comes off, the room goes quiet for half a second, and suddenly everyone wants the same gift. That is the sweet spot. A great white elephant pick should make people laugh, lean in, and start plotting their next steal before the turn is even over.

Should a White Elephant Gift Be Funny or Useful?

A white elephant gift can be funny or useful, but the strongest choices usually give people a reason to laugh and a reason to keep the item. A practical gift with an odd design, unexpected feature, or playful theme can get a reaction without becoming something the recipient immediately wants to give away.

The right balance depends on the group. Close friends and family members may enjoy a ridiculous gag gift because they already understand one another’s sense of humor.

A workplace exchange, neighborhood party, or mixed-age gathering usually calls for something with broader appeal. In those settings, humor works better when it is built into an item people could still use afterward.

It also helps to think about how quickly the gift will make sense once it is opened. A strangely shaped kitchen tool, oversized mug, quirky desk accessory, or unexpectedly fancy everyday item can create an immediate reaction. Guests understand the joke right away, while the item still has enough practical value to attract a steal.

Pure gag gifts can be harder to pull off. Something that exists only for the punchline may get a big laugh during the reveal and then sit untouched for the rest of the game. If the goal is to bring one of the gifts everyone keeps fighting over, usefulness gives the joke staying power.

Memorable Present Ideas: Creating Inside Joke Gifts

Inside joke gifts can make a white elephant exchange feel much more personal, especially when most of the group shares the same stories. The trick is choosing a reference that people will recognize quickly instead of building the entire joke around something only two guests understand.

You can turn a memorable vacation mishap, office catchphrase, family story, or long-running group joke into the theme of the gift. A personalized comic book can work especially well when it turns familiar people or a ridiculous shared moment into part of the story.

Think carefully about who the joke involves before ordering anything permanent. The gift should make the person feel included in the fun, not singled out for the wrong reason.

Can You Bring Something You Already Own?

Holiday gift exchanges can be a good place to re-gift something you never used, especially if it is unopened and clean.

The following can all work if they still look presentable:

A duplicate kitchen gadget
An untouched game
A decorative item
A sealed gift set
An unopened candle
A new travel accessory

The goal is to give the item a second chance, not use the exchange as an excuse to clear out damaged or unwanted clutter.

Take a close look at the packaging before wrapping it. Faded boxes, missing pieces, visible wear, or anything that looks obviously used can make the gift feel careless.

Wrapping Budget-Friendly Gifts

Wrapping can make gifts more entertaining before anyone even knows what’s inside.

Misdirection works especially well for fun party games. Put a small gift inside a much larger box. Use packaging from an unrelated household item.

Add harmless weight so guests cannot guess what they are holding. The reveal becomes part of the joke without changing the gift itself.

You can also lean into the theme of the exchange. Bright paper, oversized bows, reusable bags, or deliberately over-the-top wrapping can make an ordinary item feel more memorable. If the gift itself is already funny, simple wrapping may work better so the surprise stays hidden until the last second.

Frequently Asked Questions

Is Picking Last an Advantage in White Elephant?

Picking last can be an advantage because you get to see almost every gift before making your move. Instead of choosing blindly from the remaining wrapped presents, you can steal something that has already caught your attention if the rules still allow it.

That advantage depends on the house rules. Some games limit how many times a gift can be stolen.

Others lock an item once it reaches a certain number of steals. If the most popular gifts are already unavailable, the final player may have fewer strong options than expected.

The first player can also get another turn at the end in some versions of the game. That rule can balance things out, since the person who started with the least information may get one final chance to steal.

How Do You Plan White Elephant for a Large Group?

For a large white elephant exchange, set a firm spending limit and establish the stealing rules in advance.

Create a clear turn order before the game begins. Drawing numbers as guests arrive can save time once everyone is ready to start.

Keep the number of steals per gift limited so the game does not drag on. It also helps to have one person track which creative holiday presents have been stolen and when they are locked, especially if dozens of people are participating.

Can You Play White Elephant Virtually?

A virtual white elephant exchange can work over a video call, with one person keeping track of the turn order and each steal. Guests can either mail physical gifts ahead of time or use digital gifts that can be delivered once the game ends.

Set the spending limit and stealing rules before everyone joins. It also helps to decide how gifts will be revealed and who is responsible for sending each one afterward so the exchange does not become confusing.