Tackling the Racial Wealth Gap

Maryland is not immune from the persistent racial wealth gap that exists in this country and holds back our communities from being as prosperous and thriving as they could be. This racial gap has a persistent negative effect not just on some communities, but on our economy as a whole – and we must confront it head-on. The effects on households are staggering. Median household wealth for Black, Latino, and white households is around $25,000, $36,000, and $188,000, respectively. Nationally, it is estimated that the racial wealth gap and its dampening effects on consumption and investment will cost the US economy between $1 trillion and $1.5 trillion over the next decade. As Comptroller, Liri Fusha will use her seat to convene stakeholders, thought partners, and government officials to implement strategies that challenge the gap and begin to undo decades of systemic racism in our housing and business sectors so that every community in Maryland has the chance to reach its full potential and our economy can grow and thrive.

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