Americans elected President Joe Biden to enact massive, structural change almost four years ago, leading to landmark federal initiatives like the American Rescue Plan, Infrastructure Investment, and Jobs Act, and the Inflation Reduction Act. This $4 trillion opportunity aims to reshape society by addressing historical injustices and promoting economic prosperity for all Americans, regardless of race or background. By leveraging these policies, sustainable economic growth, job creation, climate change mitigation, and equity advancement can be catalyzed. However, there is a limited window for allocating and spending the funds, emphasizing the importance of informed voting in electing candidates who prioritize equity in federal funding.
Recent research by Hyphen and People’s Action Institute illustrates the connection between informed voting and impactful economic change. Surveys conducted in cities such as Milwaukee, Wis. and Reading, Pa. revealed low awareness levels of crucial legislation like the Bipartisan Infrastructure Law and IRA, but upon understanding the influence of their votes on these bills, voter engagement increased significantly. This highlights the power voters have in holding political leaders accountable for shaping policies with equity as a priority, underscoring the importance of educating voters on the impact of their voting choices on economic development.
Racial equity is not just a social justice issue but a fundamental driver of economic prosperity, particularly for small businesses led by entrepreneurs of color. Ensuring that funds reach marginalized communities is crucial for unlocking the nation’s economic potential. Historical trends have shown that funds have not always reached their intended targets, hindering the growth of minority-owned enterprises and highlighting inefficiencies in resource utilization. The advent of programs like SSBCI 2.0 presents an opportunity to supercharge private investment in historically overlooked groups, fostering economic empowerment and job creation.
As the upcoming election approaches, prioritizing issues that resonate with communities of color is essential. Infrastructure initiatives that center economic support, equity, and the environment are particularly significant to voters, with access to clean water, lowering prescription drug prices, rebuilding infrastructure, cleaning up pollution, and creating jobs through clean energy projects ranking as top priorities. The opportunity to reach voters and build a message that resonates with their concerns is crucial in ensuring that political leaders follow through on their commitments and make tangible differences in communities in need.
Taking action now is imperative to seize the pivotal moment of rebuilding the nation with racial equity at its core. Active involvement in reshaping the future requires informed voting, participation in organizations that prioritize community needs, and directing federal dollars towards areas of greatest need. By dismantling systemic inequities, fostering progress, and building economic prosperity for future generations, the promise of a more inclusive and equitable society can be realized. Organizations like Hyphen and People’s Action play a crucial role in advancing these efforts through deep listening and prioritizing community needs.
