Economics

Jesse Jackson’s Rainbow PUSH Wall Street Economic Project Summit Plans Global Impact

Published

11 years ago

February 3, 2015

Jesse Jackson’s Rainbow PUSH recently held a Wall Street Project Economic Summit to bring together the power of Main Street, Wall Street and Silicon Valley.

Hosted at the Sheraton Times Square in New York City, the weeklong convention featured Steve Ballmer, new owner of the Los Angeles Clippers; World Bank President Dr. Jim Yong; National Newspaper Publisher Association President John W. Rogers Jr.; Ariel Investments CEO & Chief Investment Officer Cloves C. Campbell Jr.; and Black Enterprise President and Chief Executive Officer Earl G. Graves Jr.

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“We have the power to make great change, and by connecting everyone in the sectors of capital, tech and corporate American, we can create solutions to some of the world’s greatest problems,” said Jackson.

Jackson has already been instrumental in getting Silicon Valley tech titans to publicly share their statistics on diversity and inclusion and has successfully helped Intel lead the way in a $300 million commitment to the cause over the next five years.

Intel Vice President, Chief Diversity Officer Rosalind Hudnell said her company is at the forefront of change.

“We are committed to changing the landscape of Silicon Valley and by committing dollars to pipelines that contribute to the diversity of our company and the world of tech is a step in the right direction,” she said. “It has been amazing having a partner in the Rev. Jackson and Rainbow PUSH.”

“We are excited about capital commitments, Intel’s role, and we expect to see jobs created and more under-represented people employed,” said Butch Wing, Rainbow PUSH’s Director of Communications.

“What we are seeing today is once again more a matter of economics,” said author and economist Dr. Julianne Malveaux.

“Racism still exists, but if we can eradicate the economic disparities, we will see great change,” she said.

Black Enterprise publisher Earl “Butch” Graves Jr. hosted a luncheon at the convention honoring its top “40 Best Companies for Diversity.”

The publisher also presented copies of the magazine’s January 2015 edition, highlighting each company. “We must celebrate companies that are ensuring that our community receives more opportunities, and inclusion is a large part of their platform,” Graves said.

Shawn Granberry, CEO of Watch Now Networks, Inc. attended the convention for the first time and hosted a press conference and panel discussion on the Business of Hip Hop.

“Hip hop is a multi-billion dollar business, and Hip Hop TV will be at the core of developing high-end content for the industry and developing revenue streams for artists as well as harnessing the power of hip hop as a voice for change in the world,” he said.

For more information visit: rainbowpushwallstreet.org, hiphoptv.com, or hiphopunion.org.

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Business

California Launches Study on Mileage Tax to Potentially Replace Gas Tax as Republicans Push Back

Under current law, California depends heavily on revenue from the gas tax to fund roads, highways, and infrastructure, but those revenues are projected to shrink as electric vehicle use grows and overall gasoline consumption drops. The mileage study would look at a “road charge” system where drivers pay based on how many miles they drive, rather than how much gas they buy.

Published

5 days ago

February 10, 2026

Oakland Post

Assemblymember Lori Wilson (D-Suisun City is the author of AB 1421. File photo.

By Tanu Henry, California Black Media

California lawmakers are moving forward with a study to explore a mileage-based tax as a potential replacement for the state’s traditional gas tax — a shift supporters say is driven by declining fuel tax revenues as more drivers switch to fuel-efficient and electric vehicles.

The research, tied to Assembly Bill (AB) 1421, would extend and support work by the state’s Road Usage Charge Technical Advisory Committee through 2035.

The bill does not yet enact a new tax. Instead, it extends the study and advisory work until 2035 and would have the Legislature receive findings and recommendations, with a report due by Jan. 1, 2027.

Republicans in the California Legislature have been vocal in their opposition. Assembly Republican Leader Heath Flora criticized the proposal.

“We already pay the highest gas taxes in the nation. Now Sacramento is talking about adding a new tax for every mile people drive,” Flora said. “Piling on another tax right now shows just how out of touch politicians in Sacramento are with the reality working families face.”

The plan has drawn broader GOP criticism from leaders outside the Legislature as well. California Republican gubernatorial candidate Steve Hilton called a mileage fee “absolutely outrageous” and said, if elected, he would veto the tax, adding that tracking and charging drivers for every mile is unacceptable.

Supporters say the study is a pragmatic response to long-term funding challenges.

On the Assembly Floor on Jan. 29, Assemblymember Lori Wilson (D–Suisun City), the bill’s author, said that California’s transportation funding is “becoming less stable, less equitable, and less sustainable as more drivers switch to fuel-efficient and zero-emission vehicles.”

“Drivers using the same roads often pay different amounts for that use,” Wilson continued. “Low income and rural commuters who must drive farther and less efficient vehicles can pay more while others contribute less despite roadway impacts.”

Wilson and other supporters contend that a per-mile road charge could ensure that all drivers contribute fairly to the costs of maintaining roads, regardless of the type of vehicle they drive.