Friday, March 29, 2024

Georgia to Pay Black Women $850 Per Month To Combat Wealth Gap

Black Women - Covid-19 (Getty)
Random Black women

*The state of Georgia intends to tackle the racial wealth gap by paying Black women $850 a month over the next two years. 

As reported on Yahoo, the Georgia Resilience and Opportunity Fund will provide 650 Black women across the state with the payments. Some will receive payments monthly, while others will get a lump sum. 

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From ABC News:

Black residents in Atlanta are four times as likely to be living under the federal poverty line than their white neighbors, with 46% of Black households earning below $25,000 a year, according to recent research by the Old Fourth Ward Economic Security Task Force. Some 38% of Black women and 26% of Black men in the city are living in poverty, compared to 8% of white women and 5% of white men in the same city, the task force reports.

Hope Wollensack, the executive director of the Georgia Resilience & Opportunity Fund, said the program is just the tip of the iceberg in terms of what is needed to address inequality.

“It’ll take a multifaceted approach — and probably many different policies — to even begin to address the racial wealth gap,” she said. “But we do know that stabilizing one’s income can be a powerful tool not only to improve one’s material circumstances in the short term and to improve quality of life and opportunities but also to enable individuals across the board to plan for the long term.”

ABC News reports that the “Real Wakanda” Initiative will is a basic income program to assist 300 residents in poverty. The initiative will pay residents $500 for 12 months. 

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