Gillibrand says institutional racism has created racial wealth gap

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Sen. Kirsten Gillibrand (D-N.Y.) on Tuesday said institutional racism had created a racial wealth gap and called for “broad and targeted” solutions to solve it, an issue that is gaining steam among the 2020 Democratic contenders.

“Institutional racism throughout our society has created a racial wealth gap that holds families back for generations,” she tweeted Tuesday. “We need solutions both broad and targeted, from full employment and raising wages to postal banking and studying reparations.” 

{mosads}Gillibrand has been pushing proposals intended to reduce racial wealth inequality, BuzzFeed News had reported in a story published on Monday.

Among other proposals that Gillibrand has endorsed are raising taxes on the very wealthy and providing trust accounts for children at birth, which would be available once they become adults, according to BuzzFeed.

The issue is being increasingly addressed by 2020 Democratic contenders.

BuzzFeed reported that the Institute for Policy Studies, the Kirwan Institute for the Study of Race and Ethnicity, and the National Community Reinvestment Coalition will publish a report this week called “Ten Solutions to Bridge the Racial Wealth Divide.” 

The report includes proposals that Gillibrand has endorsed, according to BuzzFeed, which obtained an early summary of it.  

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