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We Can Fulfill America’s Promise by Throwing Everything We’ve Got at the Climate Crisis By Ben Jealous

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(TriceEdneyWire.com) - Independence Day at its best is a call to action to leave our children an America as good as its promise.

This time of year makes me think about my family’s journey in this country. My father’s family is white. He descends from the youngest combatant at the Battle of Lexington and Concord. My mother’s family is Black. She descends from two Black Virginia statesmen who helped to rebuild the Commonwealth after the Civil War. One of them descended from Thomas Jefferson’s grandmother.

Today, both families, like many Americans, live at or near some version of the same address. It is that place where there used to be factories and when they shut down, what shot up was poverty, despair, suicide, and opiate addiction. And as if all that were not enough to deal with, it keeps getting hotter. The floods come more often. The super storms do as well.

If there is a silver lining in all this struggle, it is this: There is one solution that can tackle all these problems, and that is throwing everything we’ve got at stopping the climate crisis. If we do that, we will turn around the economy, our neighbors’ lives, and the fate of the planet itself. 

The next five years will define who leads the world economy, us or China. Our leadership in innovation and design allowed us to take an early lead in the areas of electric vehicles (EVs) and other green technologies. But China leads in manufacturing. Today they dominate solar panel production and have overtaken the US on EVs as well. Still, we have not given up the fight, despite calls from Fox News and others for us to do just that.

Georgia is home to the largest solar panel production facility in the Western Hemisphere. The same company that owns that plant, Qcells, is about to open another one in Georgia that will be the only plant outside of China producing every component of the panel, from ingot to finished product.

Tennessee, North Carolina, and other southern states have a battery belt. EVs are rolling off the assembly lines in Detroit and elsewhere. Illinois has very recently become home to a boom in production of both EVs and EV components. In short, because of the green economy America has helped the world give birth to, and the investments in manufacturing and infrastructure made under President Biden, we are opening new factories with increasing frequency and beginning to see the signs of an economy that will lift all boats again. This means thousands upon thousands of good jobs coast to coast. It has been revolutionary in places like Dalton, GA, the location of Qcells’ existing Georgia plant. There, a wall is decorated with the artwork of employees’ children showing their parents as heroes saving the planet.

The other part of the equation to save the planet requires us to protect and rebuild our forests. Expanding wild areas and protecting nature brings more jobs to rural America and helps preserve ancient ways of hunting, fishing, and connecting with the natural world.

The benefits of protecting and planting more trees are not just for rural areas. Restoring our urban tree canopies is one of the most effective things we can do to combat the urban heat crisis in cities across the country. Recently I have been out visiting cities around the country, from Phoenix, Arizona to Lansing, Michigan, with US Department of Agriculture Undersecretary Homer Wilkes promoting the administration’s $1.5 billion tree planting initiative.

Every new tree casts shade and its shade makes the temperature feel 10-15 degrees cooler than it does in the sun. That encourages people to get outdoors. More people outside and on the street means communities are better protected, safer, and more connected. Andb better connected communities are more content and, due to reduced social isolation among its members, experience less suicide.

The pursuit of America’s promise is an ongoing journey. Although we may feel separate from each other at times, we walk this road together. And we will all rise or fall together. On America’s birthday, let us choose to rise by meeting the challenge of the climate crisis and making the world a better place for everyone along the way.

Ben Jealous is the Executive Director of the Sierra Club and a Professor of Practice at the University of Pennsylvania.

State of the Nation’s Housing 2024: Cost of the American Dream Jumped 47 percent since 2020 By Charlene Crowell

June 22, 2024
 
Hands of family together holding house in green park - family home and real estate concept
In the worst circumstances are those who no longer have a place to call home. In 2023, a record 653,100 people experienced homelessness on a single night in January, up 70,600 people in a single year, according to The State of the Nation’s Housing 2024, an annual report just published by Harvard’s Joint Center on Housing Studies (JCHS). This figure includes an additional 22,800 people living outside or staying in places not intended for human habitation, pushing the unsheltered population to an all-time high. 
The report also documents that of the 22.4 million renters who pay over 30 percent of household income for housing, 12.1 million of these consumers pay more than half of their income on housing and utilities. And nationwide, renters with the lowest incomes have just $310 left over each month to cover all their non-housing needs.
“Rents have been rising faster than incomes for decades,” says Alexander Hermann, a Senior Research Associate at the Center. “However, the pandemic-era rent surge produced an unprecedented affordability crisis that continues.”
More than half of Black (57 percent), Latino (54 percent), and multiracial (50 percent) renter households remain cost-burdened since 2022.  As a rule, affordable housing should cost no more than 30 percent of household income.
Renters seeking to transition to homeownership face daunting financial challenges as well.
“Whether it’s the high downpayment or the monthly mortgage payments, the costs of buying a home have left homeownership out of reach to all but the most advantaged households,” says Daniel McCue, a JCHS Senior Research Associate. 
According to the report, a consumer purchasing a home with an affordable FHA loan that requires only a 3.5 percent down payment would incur a  a monthly payment of $3096, and  an annual income of at least $119,800, only one in seven (6.6 million) of the nation’s 45 million renters can qualify for that mortgage payment.
“In the event a buyer could not qualify for a low-downpayment loan, the required cash would be $89,600 for a 20 percent downpayment and 3 percent closing costs on the same property. Assuming the buyer earns the national median household income of $74,800, they would need to save more than a full year’s salary to amass sufficient cash,” states the report.
 
Beyond the nation’s 47 percent jump in housing costs since 2020, households of color now have additional hurdles to overcome before achieving their own American Dream.
For example, increasing costs and numbers of climate disasters have led to corresponding increases in home insurance costs. In 2023, the number of billion-dollar disasters reached a record 28, affecting 60.5 million housing units.
In reaction, and according to Forbes, the average annual cost for insurance on a house valued at $350,000 is $1,678. However,  insurance costs in Alabama, Florida, Kansas, and Mississippi average more than  $2,000 per year. Residents in Arkansas, Louisiana, and Oklahoma pay more than  $3,000 yearly.
Further, historic racial wealth disparities contribute to the nation’s large racial homeownership gap,  Intergenerational transfers of wealth that often help whites with downpayments and/or mortgage financing remain an exception rather than the rule for many Blacks, according to JCHS. And access to affordable credit remains a nagging deterrent to homeownership.      
“Addressing these challenges will not be easy,” says Chris Herbert, Managing Director of the Center. “But with concerted efforts by policymakers at all levels of government, together with the private and nonprofit sectors, we have the ability to increase the supply of quality, affordable homes in thriving communities across the US.”
Charlene Crowell is a senior policy fellow with the Center for Responsible Lending. She can be reached at This email address is being protected from spambots. You need JavaScript enabled to view it..

Black Americans Are Embracing a New Era of Financial Inclusion By Congressman Jonathan Jackson

June 22, 2024

Congressman Jonathan Jackson

(TriceEdneyWire.com) - In a country where wealth disparities persist, financial inclusion is still the road that leads to equity. Black Americans have historically faced barriers to wealth generation and investment opportunities. Today, the tide is turning, and technology is paving the road to education, access, and empowerment.

A myriad of new technologies continue to create more opportunities for our historically underserved communities to participate in the financial system, including in the areas of banking and investing.

What is Financial Inclusion?

At its core, financial inclusion is a term of hope. It aims to ensure all individuals and communities, regardless of socio-economic background, have equitable access to affordable and reliable financial services to manage their finances, invest, save, and build wealth.

For Black Americans, it represents a pathway to rectifying historical injustices and systemic barriers that have hindered economic progress for centuries. Financial inclusion is a prime facilitator of poverty reduction and a generator of financial stability for Black families to accumulate assets and create pathways to mobility.

Technology: A Great Equalizer

Access to modern technology is not universal, and the digital divide is a crucial example of how much we still need to achieve. But for many Black people throughout the country, technology provides an unprecedented opportunity to participate in the financial market. Here’s how:

  • Access to Information: The internet provides a wealth of knowledge previously kept from marginalized groups at a lower cost only technology can produce. Now, those groups can educate themselves about personal finance, investment strategies, and wealth-building.
  • Mobile Apps: Apps have transformed the way we connect with businesses and one another. Intuitive interfaces, quicker response times, and overall enhanced user experience make apps a powerful tool for us to do business.
  • Financial Literacy: Educational resources are available to empower individuals to make informed financial decisions, whether through e-newsletters, podcasts, webinars, or online courses.
  • Digital Banking: Online banking allows for more convenient and cost-effective money management. No longer tied to physical branches, underserved communities can transact, save, and invest from anywhere.
  • Fintech: With the convergence of finance and technology, Fintech is leveraging digital platforms to create innovative solutions to democratize financial services. Companies like Robinhood have enabled a new wave of investors to participate in the stock market without costly trading commissions and high account minimums.

According to the Ariel-Schwab Black Investor Survey conducted in 2022, trust in technology surpasses trust in people when it comes to managing assets. Young Black investors are leading the charge, with three times as many investing in the stock market for the first time in 2020, compared to their white counterparts. Additionally, 29% of Black investors under 40 were new to investing in 2020, compared to 16% of white investors.

Federal Reserve data reinforces this trend. In 2022, 58% of American households owned stocks. Notably, Black and Hispanic investors increased their participation significantly, both almost doubling since 2019.

The Road Ahead

The Black community stands at the forefront of this era, where under-resourced communities embrace their newfound access to the financial landscape. But despite increasing literacy and inclusion and the combined efforts of our political leaders, including the Congressional Black Caucus and the Financial Services Committee, and recent legislation like the “Financial Innovation and Technology for the 21st Century Act” (FIT21), history has taught us that our continued progress isn’t guaranteed. Some federal regulators, like Securities and Exchange Commission’s Gary Gensler, have pursued new regulations that would undermine important efforts to narrow the racial wealth gap and increase financial inclusion for the Black community.

As we look ahead, the support of young and new voices in Congress who champion pro-innovation policies is exactly what we need to sustain momentum. Despite the setbacks, recent progress is encouraging, but there is so much more that can be done to increase participation. Harnessing the power of technology and advocating for financial inclusion can pave the way for a more equitable future where every Black American is ensured the tools needed to thrive and prosper.

Rep. Jonathan Jackson (D-Ill.), representing Illinois’ First Congressional District, is a lifelong activist committed to social justice and equity for marginalized groups. Learn more about Congressman Jackson here.

5 Strategies to Grow Black Homeownership By Antoine M. Thompson

June 18, 2024

Antoine Thompson

 

(TriceEdneyWire.com) - In 1865, over 159 years ago, the U.S. eliminated or outlawed slavery in the U.S. with the passage of the 13th Amendment to the U.S. Constitution. One of the promises and pledges to freed slaves was that each would receive 40 acres and a mule. This commitment would help former slaves with building a home, raising a family and growing wealth through land ownership and entrepreneurship. While some Black Americans were able to receive land in the 1860s and 1870s, unfortunately, many former slaves nor their descendants ever received land. In fact, many Black Americans that were given land were chased off their land with force and brutality from the Ku Klux Klan (KKK) and other white supremacy organizations. 

Still to this day the dream of land and homeownership continues to be elusive for Black Americans from slavery, post slavery, the Jim Crow Era, the Civil Rights Era to the present. Whether it was the trick bag of sharecroppingland contractssubprime loanseminent domain policies or outright redlining of Black neighborhoods by banks and government organizations, it should not come as a surprise that there continues to be a persistent 30-point racial gap in homeownership rates in the U.S. Racial disparities in homeownership is at the core of wealth inequality in this country, you can’t separate the two. America is anchored in home and land ownership, always has been, always will be. In fact, for many years, only white men that owned property could vote in the U.S. 

Below are several strategies to help grow Black homeownership in the U.S.: Federal Student loan forgiveness for purchasing a home.  African Americans are disproportionately impacted by student loan debt forcing many to forgo homeownership. A program that addresses this disparity and forgives student loan debt would help many Black Americans achieve their homeownership dreams.

Create down payment assistance and federal Housing programs for Black descendants of slavery. Currently there are initiatives and dedicated federal housing and mortgage lending programs and incentives for Native Americans, similar efforts should be established for Black Indigenous People of Color (BIPOC), those that are descendants of slaves in America. 

Create federal and state homeownership zone programs in communities with persistent low rates of Black homeownership especially in formerly redlined communities. Intentional efforts to invest in rehabilitation of existing homes, coupled with infill housing, funding for homebuyer education, downpayment and closing subsidies, special purpose mortgage credit programs, energy efficiency

grants, and property tax incentives would have a huge impact on increasing Black homeownership. 

Lower mortgage interest rates despite the current historically low rate of Black unemployment in the U.S., high mortgage interest rates are limiting the potential for increasing the growth rate of Black homeownership. According to data from 

Freddie Mac, there are over 2 million mortgage/credit eligible potential Black American homebuyers in the U.S. 

Increasing the number of Black Real Estate Agents, Appraisers, Loan Officers and Underwriters the housing ecosystem sorely lacks diversity. Underrepresentation in these key professions plays a major role in housing discrimination, redlining, bias in mortgage lending, and the undervaluing of properties owned by Black Americans. 

It’s important to note that Juneteenth and homeownership month are in the same month. Hopefully, one day, the promise of land and home ownership will be realized equally and equitably for Black Americans. 



Antoine M. Thompson is a housing policy expert, President of the Black Housing Policy Network (BHPN), Licensed Real Estate Agent with EXP Realty Group, former National Executive Director of the National Association of Real Estate Brokers (NAREB). He is a former NYS Senator and former Buffalo City/Common Council Member.

Juneteenth, Growing in Substance, is a Chance to Celebrate Freedom With Greater Activism, Black Leaders Say By Hamil R. Harris

June 10, 2024

Rev. Amos Brown

Rev. Amos Brown

 

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Melanie Campbell


Ayo Handy Kendi

Ayo Handy-Kendi

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Dr. Frank Smith

Congressman Al Green

Congressman Al Green (D-Texas)

(TriceEdneyWire.com) - Even though President Abraham Lincoln signed the Emancipation Proclamation, he was forced to send federal troops down to Galveston, Texas, to read and post General Order Number 3 on June 19, 1865. That was because some enslaved people had not been freed.

Therefore, under the command of Major General Gordan Granger, the soldiers marched through the streets of Galveston from the courthouse to the “Negro church” and posted the following order:

“The people of Texas are informed that, by a proclamation from the Executive of the United States, all slaves are free. This involves an absolute equality of personal rights and rights of property between former enslavers and enslaved people, and the connection between them becomes that between employer and hired labor. The freedmen are advised to remain quietly at their homes and work for wages. They are informed that they will not be allowed to collect at military posts and will not be supported in idleness either there or elsewhere. By order of Major General Granger.”

Due to this extraordinary moment in Galveston, June 19, 2021 officially became a national holiday in the U. S., signed into law by President Joseph Biden.  But, civil rights activists and leaders from coast to coast say more must be done to explain the vital order that gave all enslaved people their full rights to freedom and self-determination. Then, communities can decide the most powerful way to commemorate it.

“This should not be just a day to eat barbeque and drink some spirits. We need to be more intentional in terms of substance to Juneteenth,” said Rev. Amos Brown, pastor of the Third Baptist Church of San Francisco and veteran civil rights activist. “Our ancestors got the word late that this nation had stopped their brutal treatment of Black folks. In Luke 4, Jesus was a liberator. Juneteenth was about liberation, and today, it ought to be about political engagement.”

On June 23, 2023, Rep. Al Green (D-Texas) sought to deepen understanding of the historical significance of Juneteenth as he delivered an impactful speech on the House floor centering on the importance of Juneteenth, the District of Columbia Emancipation Act, and his Conscience Agenda. Green also sought to underscore the urgent need for racially equitable policies and the importance of remembering the atrocities of slavery.

“President Lincoln signed the Emancipation Proclamation on January 1, 1863, but before signing the Emancipation Proclamation, President Lincoln signed the Emancipation Act on April 16, 1862…this is an important piece of legislation…the Emancipation Act would accord compensation [to slaveholders] for slaves that were freed,” Congressman Green said. “We need a Slavery Remembrance Day…we also need to accord dignity and respect to the enslaved people…with a Congressional gold medal.”

Dr. Frank Smith, founder of the African American Civil War Memorial and Museum in Washington DC, said there even needs to be more than Juneteenth.

“We can't have too many holidays to celebrate the freedom of African Americans…I think it is important to call attention to the fact that it is a long struggle, and people are still fighting to retain the right to vote because state after state is trying to make it more difficult for people to have the right to vote,” Smith said.

In 1960, Smith was one of the leaders of the Mississippi Freedom Democratic Party which took part in one of the bloodiest chapters of the Civil Rights movement. In terms of hard-fought gains of the past, he said, “I am a little concerned that we are going to let this thing slip through our fingers.”

Rev. Tony Lee, pastor of Community of Hope AME Church in Temple Hills, Md., said, “Juneteenth has always been a holiday to help us focus on self-determination. And I believe this is a good holiday to influence this nation.”

But, he added that it must be expanded to all generations.

“Young adults will be engaged if activists take their messages to the people,” Lee said. “In Maryland, we had a night club tour where we went into area night clubs and talked about the importance of voting and self-determination.”

Juneteenth is the oldest known celebration commemorating the end to slavery in the United States. President Lincoln’s Emancipation Proclamation became official on January 1, 1863. It had little impact on Texans due to the minimal number of Union troops present to enforce the new Executive Order. However, with the surrender of General Lee in the Civil War in April of 1865, General Granger’s regiment squashed Confederate resistance and sent the final order to Texas.

“Texas was one of the Southern Confederate States that was forced to free its enslaved who were still in bondage,” said Ayo Handy-Kendi, founder of the African American Holiday Association. “The people celebrated in such a way that the celebration continues today.”

From Houston to Atlanta and from Miami to Washington DC, Juneteenth is broadly a festive holiday. This year will include a Juneteenth celebration at the White House. President Joe Biden and First Lady Dr. Jill Biden was set to host a Juneteenth Concert at the White House on Monday, June 10th.  It was intended to kick off a week of activities taking place across the country, leading to Wednesday, June 19, the actual federal holiday.

It was President Biden who signed bipartisan legislation in 2021 establishing Juneteenth as the nation’s newest Federal holiday, “so that all Americans can feel the power of this day, learn from our history, celebrate our progress, and recognize and engage in the work that continues,” President Biden wrote.

The White House Juneteenth concert will host big names like Gladys Knight, Patti LaBelle, Roy Wood, Jr., Doug E. Fresh and Brittney Spencer.

Handy-Kendi says she produces “a one woman play called Juneteenth Freedom Sagas which tells the true story of Juneteenth and other emancipation stories through the lens of those who held the enslaved in bondage and further speaks to the liberation stories today.”

Melanie Campbell, president/CEO of the National Coalition of Black Voter Participation, said among the greatest tributes to Juneteenth will be learning from its history.

“We celebrate. But we [must] learn from history,” Cambell said. “We need to take this moment right now to learn because we all don't have our right to vote, right to learn and women don’t have right to choose.”

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