CBCF Conference Calls for Bold Action to Erase Racial Wealth Gap

The Congressional Black Caucus Foundation’s (CBCF) Annual Legislative Conference (ALC) became a powerful platform this year, demanding action to close the persistent racial wealth gap and reshape the Black economic future. Centered on the theme “From Vision to Victory: Amplifying Black Voices,” the event brought together lawmakers, activists, and industry leaders to confront the policies that have perpetuated economic disparities for Black Americans—inequities that have cost the U.S. economy $16 trillion over the past two decades.

Maryland Governor Wes Moore set the tone with a direct message on the history of systemic racism. He underscored that understanding policies like the Homestead Act and redlining is key to addressing the wealth gap. “This gap didn’t happen by accident. It was created by deliberate decisions to withhold resources from Black communities,” Moore said. He pointed to the significant financial toll the racial wealth gap continues to take, noting, “Racism is expensive. This country has lost $16 trillion in GDP because of it.”

Moore’s speech echoed the broader call to action at the conference, urging policymakers to enact bold reforms that target housing, wages, and education. The goal, he said, is to create an economy where racial wealth inequality is relegated to history.

Congressional Black Caucus Chair Rep. Steven Horsford (D-NV) emphasized Black Americans' cultural and economic contributions, stressing the need for greater ownership. “Black people drive culture and, in turn, the economy. Now, it’s time for Black America to take ownership of what we help build,” Horsford declared, calling for policies that turn consumers into owners.

Rep. Troy Carter (D-LA), co-chair of the conference, focused on dismantling Black Americans' barriers in accessing capital, education, and housing. “We must break down the systems that limit opportunity for Black entrepreneurs and workers,” he stated, calling for policies that eliminate discrimination in lending, hiring, and workforce development.

Another co-chair, Rep. Lucy McBath (D-GA), delivered a message of empowerment, reminding attendees of the strength within the Black community. “We have the resources, the intellect, and the political power to win this fight. But we must act now,” she urged.

The conference featured voices from across the spectrum of Black leadership, including NAACP President Derrick Johnson and PolicyLink CEO Dr. Michael McAfee. Each speaker tied the struggle for racial justice to economic equity, pushing for immediate and decisive policy changes.

Governor Moore’s stark reminder of the $16 trillion lost to the racial wealth gap over two decades echoed throughout the event. His closing words resonated: “Our time in these seats is temporary. We don’t have a minute to waste.”