HR 301 — A Resolution directing the Legislative Budget and Finance Committee to conduct a study that examines the effects of the racial wealth disparity on Black residents in this Commonwealth and provide policy recommendations on how to best reduce or eliminate the racial wealth disparity in this Commonwealth.

PRINTER'S NO.    2260

                     THE GENERAL ASSEMBLY OF PENNSYLVANIA



              HOUSE RESOLUTION
                 No. 301
                                                 Session of
                                                   2025

     INTRODUCED BY GREEN, KHAN, GIRAL, WAXMAN, HILL-EVANS, MADDEN,
        FREEMAN, MAYES, SANCHEZ, CEPEDA-FREYTIZ, D. WILLIAMS,
        BELLMON, BOYD AND SMITH-WADE-EL, SEPTEMBER 2, 2025

     REFERRED TO COMMITTEE ON COMMERCE, SEPTEMBER 4, 2025


                                  A RESOLUTION
 1   Directing the Legislative Budget and Finance Committee to
 2      conduct a study that examines the effects of the racial
 3      wealth disparity on Black residents in this Commonwealth and
 4      provide policy recommendations on how to best reduce or
 5      eliminate the racial wealth disparity in this Commonwealth.
 6         WHEREAS, In 2024, it was reported that Black families, on
 7   average, owned roughly 23¢ for every $1 of White family wealth;
 8   and
 9         WHEREAS, Many historical barriers and decades of
10   discrimination have led to numerous economic challenges that
11   still impact Black Americans to this day and this is evident in
12   the racial wealth disparity in the United States; and
13         WHEREAS, Studies show that the loss of Black wealth as a
14   result of slavery is an estimated $14 trillion in today's
15   dollars; and
16         WHEREAS, Jim Crow laws created economic barriers for Black
17   Americans by preventing access to quality housing, public
18   facilities, education and job placement; and
19         WHEREAS, Political disenfranchisement through literary tests,
 1   grandfather clauses, poll taxes and White primaries resulted in
 2   generations of Black Americans not having a political voice and
 3   a lack of political influence over policies to promote economic
 4   prosperity; and
 5         WHEREAS, Redlining, the practice of deeming predominately
 6   Black neighborhoods as "high risk," resulted in Black families
 7   being unable to purchase new homes, having difficulty moving out
 8   of lower-quality, inner-city housing and increasing their
 9   likelihood of defaulting on their mortgage loans; and
10         WHEREAS, As a result of this discrimination and generations
11   of economic barriers, in 2021, it was reported that homes in
12   Black neighborhoods are undervalued by 23%, totaling more than
13   $150 billion of wealth lost for Black communities throughout the
14   United States; and
15         WHEREAS, According to the Board of Governors of the Federal
16   Reserve System, Black adults are twice as likely to be unbanked
17   or underbanked compared to White adults, which means having less
18   access to important banking and financial services to help build
19   wealth; and
20         WHEREAS, According to a 2022 study, the median credit scores
21   of Black adults were significantly lower than White adults, with
22   median credit scores for Black young adults 18 to 20 years of
23   age being 24 points lower and Black adults 25 to 29 years of age
24   being 105 points lower than White adults in the same age group;
25   and
26         WHEREAS, Based on this information, it is evident that Black
27   Americans continue to be disadvantaged from generations of
28   racism and discriminatory policies; and
29         WHEREAS, The Commonwealth must take action to address the
30   racial wealth disparity and help build generational wealth in

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 1   communities that are still struggling with economic inequality;
 2   therefore be it
 3      RESOLVED, That the House of Representatives direct the
 4   Legislative Budget and Finance Committee to conduct a study that
 5   examines the effects of the racial wealth disparity on Black
 6   residents in this Commonwealth and provide policy
 7   recommendations on how to best reduce or eliminate the racial
 8   wealth disparity in this Commonwealth; and be it further
 9      RESOLVED, That the Legislative Budget and Finance Committee
10   report its findings and policy recommendations to the General
11   Assembly within one year of the adoption of this resolution.




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