As the nation braces for a pivotal election, experts and advocates at the 53rd Annual Legislative Conference of the Congressional Black Caucus Foundation (CBCF) turned up the heat on federal policies that have deepened the wealth divide between Black and white Americans. They called for sweeping changes to build economic equality. With Black America’s financial well-being at the forefront, the conversation was as urgent as ever.
The centerpiece of the event, the National Town Hall, dug into the systemic hurdles that have kept Black Americans from building wealth for decades. The numbers don’t lie—Black households are miles behind their white counterparts in income, home ownership, and access to capital. It’s a gap that has drained a staggering $16 trillion from the U.S. economy over the past 20 years.
Maryland Governor Wes Moore opened the floor with hard-hitting facts, highlighting how policies like the Homestead Act, unfair housing appraisals, and the inequitable use of the GI Bill have been rigged to benefit some Americans while sidelining others. His message was clear: racism isn’t just immoral—it’s downright costly. “Racism is expensive. Bigotry is expensive,” Moore stated, pushing for an overhaul of economic systems that continue to harm Black Americans.
His remarks set the stage for what became a major rallying cry: if policymakers don’t address these long-standing inequities, the entire nation stands to suffer—not just those left behind.
It’s Time for a Change
While statistics speak volumes, so did the voices at the event. Rep. Steven Horsford, Chairman of the Congressional Black Caucus, took aim at the economic powerhouse Black culture creates. “Black people drive the economy because we drive culture,” Horsford remarked, highlighting how Black Americans have propelled industries from entertainment to sports, only to see the profits funnel into other hands. His solution? Shift from being merely consumers to taking ownership in the industries Black Americans fuel.
The Town Hall wasn’t just about diagnosing the problem; it also laid out a path forward. Rep. Troy Carter pointed to expanding access to capital for Black entrepreneurs, workforce development, and affordable housing. Rep. Lucy McBath echoed the sentiment, calling on Black Americans to flex their collective intellectual, organizational, and political power to make change happen. “Victory is never guaranteed, but we have the resources to win this fight,” McBath declared.
A Call to Action
What made this year’s Town Hall different was the range of voices coming together. Beyond political leaders, the event featured community activists like LaTosha Brown, co-founder of the Black Voters Matter Fund, and John Hope Bryant, CEO of Operation HOPE. Their message? It’s going to take a village to make real economic change for Black Americans, and everyone—businesses, policymakers, and voters—has a role to play.
The panel discussions also didn’t shy away from tough conversations. Leaders called out discriminatory hiring practices, lending policies, and tax systems that continue to hold Black Americans back. One takeaway was loud and clear: it’s time for Black Americans to have a seat at the decision-making table.
As the conference wrapped up, one thing was certain—there’s no quick fix for the racial wealth gap. But with voices like these, the push for economic justice isn’t slowing down anytime soon. Leaders left the stage with a clear message: the status quo won’t cut it. It’s time for change, and it starts now.