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Six Decades After King’s Historic Speech, Report Shows Black Economic Equality is ‘Still a Dream’

NNPA NEWSWIRE — Further, the wealth gap between Black and non-Black Americans has experienced only marginal growth, with African Americans possessing eighteen cents for every dollar of non-Black wealth in 2019.  If this pace continues, it will take approximately 780 years for Black wealth to match non-Black wealth.
The post Six Decades After King’s Historic Speech, Report Shows Black Economic Equality is ‘Still a Dream’ first appeared on BlackPressUSA.

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By Stacy M. Brown
NNPA Newswire Senior National Correspondent

@StacyBrownMedia

Sixty years after Dr. Martin Luther King Jr. delivered his iconic “I Have a Dream” speech during the March on Washington for Jobs and Freedom, a groundbreaking new report has laid bare the stark truth of ongoing Black economic inequality in the United States. Titled “STILL A DREAM: Over 500 Years to Black Economic Equality,” the report, is co-authored by prominent experts Dedrick Asante-Muhammad, Chuck Collins, Omar Ocampo, and Sally Sim. Published by the Institute for Policy Studies (IPS) and National Community Reinvestment Coalition (NCRC) they underscore the enduring disparities faced by Black Americans and highlights the pressing need for concerted action to address these disparities. “Sixty years ago, Dr. King observed that America has defaulted on this promissory note to Black citizens,” stated Chuck Collins, an IPS senior scholar who directs the Program on Inequality and the Common Good in Washington, DC.

“Six decades later, despite incremental progress on some fronts, the check of opportunity has still come back with insufficient funds.” Stated by Dedrick Asante-Muhammad, Chief of Race, Wealth, and Community for NCRC, lamented, “It is deeply troubling that, sixty years after the March on Washington for Jobs and Freedom, Black economic equality remains nothing more than a dream for most Black Americans.” “The revelation that it would take more than 500 additional years to close the economic gap for Black Americans is a stark reminder of the systemic inequities that persist,” Asante-Muhammad asserted. Sally Sim, a senior organizer, and project specialist at NCRC, emphasized the urgency of the situation. “The sobering projection and findings of our report sixty years after the March on Washington for Jobs and Freedom reinforce that the dream for economic equality for Black Americans remains unfulfilled,” Sim stated.

“On this historic anniversary, let us turn this report into a catalyst for meaningful action towards comprehensive solutions and public support for policies and initiatives that promote Black economic equality.” Some key findings from the comprehensive report were that despite modest advancements made by African Americans since the 1960s, including reduced poverty rates, increased high school attainment, and lower unemployment rates, income disparities between Black and white Americans have only slightly improved. The report exposes that in 2021, African Americans earn sixty-two cents to every dollar earned by white families. The report’s authors said, at this rate, achieving income parity would take an astonishing 513 years.

Further, the wealth gap between Black and non-Black Americans has experienced only marginal growth, with African Americans possessing eighteen cents for every dollar of non-Black wealth in 2019. If this pace continues, it will take approximately 780 years for Black wealth to match non-Black wealth. Median household income for African Americans has shown minimal growth, growing just 0.36% since the turn of the century. Strikingly, it remained lower than white median family income in 1963. Even after over six decades, the Black-white homeownership divide persists.

Black homeownership has grown from 38% in 1960 to 44% in 2021, while white homeownership surged from 64% in 1960 to 74% in 2021.The report outlined a series of recommendations to combat Black economic inequality:

  1. Advocate for full employment and guaranteed jobs to ensure equal economic opportunities for all.
  2. Enact a substantial land and homeownership program to address the enduring homeownership gap between Black and white Americans.
  3. Commit to individual asset building, including financial education, asset matching programs, and supportive policies, to facilitate access to wealth-building opportunities for Black Americans.
  4. Implement policies to reduce dynastic concentrations of wealth and power, tackling the structural barriers that impede economic progress for Black Americans.
  5. Explore targeted reparations to address historical injustices and provide meaningful redress for the economic disparities Black Americans face.

The authors noted that, as the nation reflects on King’s enduring vision for equality and justice, the report serves as a sobering reminder that pursuing Black economic equality remains an unmet challenge in America. “The findings of this report are sobering and demand immediate and comprehensive action to address the economic disparities faced by African Americans,” remarked Omar Ocampo, a researcher for the Program on Inequality and the Common Good at IPS. “We must invest in transformative policies that address systemic racism and create an equitable society.”

View the full report here.

The post Six Decades After King’s Historic Speech, Report Shows Black Economic Equality is ‘Still a Dream’ first appeared on BlackPressUSA.

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Trump Set to Sign Largest Cut to Medicaid After a Marathon Protest Speech by Leader Jeffries

BLACKPRESSUSA NEWSWIRE — The bill also represents the biggest cut in Medicare in history and is a threat to the health care coverage of over 15 million people. The spending in Trump’s signature legislation also opens the door to a second era of over-incarceration in the U.S.

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By Lauren Burke

By a vote of 218 to 214, the GOP-controlled U.S. House passed President Trump’s massive budget and spending bill that will add $3.5 trillion to the national debt, according to the Congressional Budget Office (CBO). The bill also represents the biggest cut in Medicare in history and is a threat to the health care coverage of over 15 million people. The spending in Trump’s signature legislation also opens the door to a second era of over-incarceration in the U.S. With $175 billion allocated in spending for immigration enforcement, the money for more police officers eclipsed the 2026 budget for the U.S. Marines, which is $57 billion. Almost all of the policy focus from the Trump Administration has focused on deporting immigrants of color from Mexico and Haiti.

The vote occurred as members were pressed to complete their work before the arbitrary deadline of the July 4 holiday set by President Trump. It also occurred after Democratic Leader Hakeem Jeffries took the House floor for over 8 hours in protest. Leader Jeffries broke the record in the U.S. House for the longest floor speech in history on the House floor. The Senate passed the bill days before and was tied at 50-50, with Republican Senator Lisa Murkowski saying that, “my hope is that the House is gonna look at this and recognize that we’re not there yet.” There were no changes made to the Senate bill by the House. A series of overnight phone calls to Republicans voting against, not changes, was what won over enough Republicans to pass the legislation, even though it adds trillions to the debt. The Trump spending bill also cuts money to Pell grants.

“The Big Ugly Bill steals food out of the hands of starving children, steals medicine from the cabinets of cancer patients, and equips ICE with more funding and more weapons of war than the United States Marine Corps. Is there any question of who those agents will be going to war for, or who they will be going to war against? Beyond these sadistic provisions, Republicans just voted nearly unanimously to close urban and rural hospitals, cripple the child tax credit, and to top it all off, add $3.3 trillion to the ticking time bomb that is the federal deficit – all from a party that embarrassingly pretends to stand for fiscal responsibility and lowering costs,” wrote Congressional Black Caucus Chairwoman Yvette Clarke (D-NY) in a statement on July 3.

“The Congressional Budget Office predicts that 17 million people will lose their health insurance, including over 322,000 Virginians. It will make college less affordable.  Three million people will lose access to food assistance through the Supplemental Nutrition Assistance Program (SNAP). And up to 16 million students could lose access to free school meals. The Republican bill does all of this to fund tax breaks for millionaires, billionaires, and corporations,” wrote Education and Workforce Committee ranking member Rep. Bobby Scott (D-VA) in a statement. The bill’s passage has prompted Democrats to start thinking about 2026 and the next election cycle. With the margins of victory in the U.S. House and U.S. Senate being so narrow, many are convinced that the balance of power and the question of millions being able to enjoy health care come down to only several thousand votes in congressional elections. But currently, Republicans controlled by the MAGA movement control all three branches of government. That reality was never made more stark and more clear than the last seven days of activity in the U.S. House and U.S. Senate.

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WATCH: NNPA Publishers Pivot To Survive

7.2.25 via NBC 4 Washington

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7.2.25 via NBC 4 Washington

https://youtube.com/watch?v=9oZc5Sz0jQQ&feature=oembed

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Congressional Black Caucus Challenges Target on Diversity

BLACKPRESSUSA NEWSWIRE — we found that the explanations offered by the leadership of the Target Corporation fell woefully short of what our communities deserve and of the values of inclusion that Target once touted

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By Stacy M. Brown
Black Press USA Senior National Correspondent

Target is grappling with worsening financial and reputational fallout as the national selective buying and public education program launched by the Black Press of America and other national and local leaders continues to erode the retailer’s sales and foot traffic. But a recent meeting that the retailer intended to keep quiet between CEO Brian Cornell and members of the Congressional Black Caucus Diversity Task Force was publicly reported after the Black Press discovered the session, and the CBC later put Target on blast.

“The Congressional Black Caucus met with the leadership of the Target Corporation on Capitol Hill to directly address deep concerns about the impact of the company’s unconscionable decision to end a number of its diversity, equity, and inclusion efforts,” CBC Chair Yvette Clarke stated. “Like many of the coalition leaders and partner organizations that have chosen to boycott their stores across the country, we found that the explanations offered by the leadership of the Target Corporation fell woefully short of what our communities deserve and of the values of inclusion that Target once touted,” Congresswoman emphasized.  “Black consumers contribute overwhelmingly to our economy and the Target Corporation’s bottom line. Our communities deserve to shop at businesses that publicly share our values without sacrificing our dignity. It is no longer acceptable to deliver promises to our communities in private without also demonstrating those values publicly.”

Lauren Burke, Capitol Hill correspondent for Black Press of America, was present when Target CEO Cornell and a contingent of Target officials arrived at the U.S. Capitol last month. “It’s always helpful to have meetings like this and get some candid feedback and continue to evolve our thinking,” Cornell told Burke as he exited the meeting. And walked down a long hallway in the Cannon House Office Building. “We look forward to follow-up conversations,” he stated. When asked if the issue of the ongoing boycott was discussed, Cornell’s response was, “That was not a big area of focus — we’re focused on running a great business each and every day. Take care of our teams. Take care of the guests who shop with us and do the right things in our communities.”

A national public education campaign on Target, spearheaded by Dr. Benjamin F. Chavis Jr., president and CEO of the National Newspaper Publishers Association (NNPA), the NNPA’s board of directors, and with other national African American leaders, has combined consumer education efforts with a call for selective buying. The NNPA is a trade association that represents the more than 220 African American-owned newspapers and media companies known as the Black Press of America, the voice of 50 million African Americans across the nation. The coalition has requested that Target restore and expand its stated commitment to do business with local community-owned businesses inclusive of the Black Press of  America, and to significantly increase investment in Black-owned businesses and media, Historically Black Colleges and Universities (HBCU, Black-owned Banks, national Black Church denominations, and grassroots and local organizations committed to improving the quality of life of all Americans, and especially those from underserved communities. According to Target’s latest earnings report, net sales for the first quarter of 2025 fell 2.8 percent to $23.85 billion compared to the same period last year. Comparable store sales dropped 3.8 percent, and in-store foot traffic slid 5.7 percent.

Shares of Target have also struggled under the pressure. The company’s stock traded around $103.85 early Wednesday afternoon, down significantly from roughly $145 before the controversy escalated. Analysts note that Target has lost more than $12 billion in market value since the beginning of the year. “We will continue to inform and to mobilize Black consumers in every state in the United States,” Chavis said. “Target today has a profound opportunity to respond with respect and restorative commitment.”

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