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In their 2016 report, The Ever-Growing Gap: Without Change, African American and Latino Families Won’t Match White Wealth for Centuries, the Institute for Policy Studies showed that if current trends continue, it will take 228 years for the average Black family to reach the level of wealth White families own today. For the average Latino family, matching the wealth of White families will take 84 years. In this report, the authors look at the racial wealth divide at the median over the next four and eight years, as well as to 2043, when the country’s population is predicted to become majority non-white. They also look to wealth rather than income to reconsider what it means to be middle class. In finding an ever-accelerating gap, the authors consider what it means for the American middle class and they explore what policy interventions could reverse the trends we see today. The authors find that without a serious change in course, the country is heading towards a racial and economic apartheid state.
Seattle is experiencing a luxury real estate boom, with thousands of new luxury residential and rental units in different stages of development. A decade from now, Seattle’s skyline and population demographics will be fundamentally altered by decisions being made today. This boom does have benefits, providing jobs in the building trades and increasing property tax revenue for the city. But the boom poses numerous perils for a city like Seattle and is not helping address Seattle’s acute affordable housing crisis. This report takes a preliminary peak at the challenges posed by Seattle’s luxury boom by looking at a snapshot of luxury condominiums and their ownership and occupancy trends. The authors look at eight fully sold luxury buildings to see what they can learn. From this, they encourage the city and policymakers to monitor the thousands of new luxury units in the pipeline and consider increased transparency requirements around ownership.
The deep and persistent racial wealth divide will not close without bold, structural reform. In this report, the authors offer 10 bold solutions broken into three categories: Programs, Power and Process. These solutions are designed to strike at the structural underpinnings holding the racial wealth divide in place while inspiring activists, organizers, academics, journalists, legislators and others to think boldly about taking on this incredibly important challenge. This summary outlines the 10 solutions, gives a snapshot of the latest racial wealth divide data, and offers a warning against false solutions.
Poor people, especially people of color, face a far greater risk of being fined, arrested, and even incarcerated for minor offenses than other Americans. A broken taillight, an unpaid parking ticket, a minor drug offense, sitting on a sidewalk, or sleeping in a park can all result in jail time. In this report, the authors seek to understand the multi-faceted, growing phenomenon of the “criminalization of poverty." The authors then summarize these realities, filling out the true breadth and depth of this national crisis.
With the establishment of the Green Climate Fund (GCF), the international community has a historic opportunity to get climate finance right. Civil society groups have been clear about the kinds of adaptation and mitigation projects they don’t want the GCF to finance in developing countries. But the question of what the GCF should support has received considerably less attention. Fortunately, there are many positive examples to learn from. This report presents 22 climate- related projects, programs, and policies that organizations from the Global South and North have identified as successful. These examples are drawn from large and small developing countries in Africa, Asia, and Latin America, and are organized into four categories: adaptation, agro-ecology, adaptation/mitigation hybrids, and mitigation. The authors also draw out some of the common characteristics of these examples, with the hope that the GCF may incorporate these lessons into their financing strategies.
Boston is experiencing a luxury real estate boom, with thousands of new luxury residential and rental units in different stages of development. A decade from now, Boston’s skyline and population demographics will be fundamentally altered by decisions being made today. This boom does have benefits, providing good jobs in the building trades and increasing property tax revenue for the city. But the boom is not helping address Boston’s acute affordable housing crisis. This report takes a preliminary look at the perils of Boston’s luxury boom. These pages examine how Boston could better protect the public interest and, in the process, capture more of the current luxury real estate wealth flow to support affordable housing for Boston residents. The authors focus here on residential condominium ownership as a form of “wealth storage” and examine twelve of the highest-priced and presently occupied luxury housing developments constructed in Boston over the last decade.