• COVID-19 Resources
  • About
  • Subscribe
  • Promotions
  • Advertise
  • Contact Us
  • June 8, 2023

Milwaukee Courier Weekly Newspaper

"THE NEWSPAPER YOU CAN TRUST SINCE 1964"

  • News
  • Editorials
  • Education
  • Urban Business
  • Health
  • Religion
  • Upcoming Events
  • Classifieds

Inflation in the Black Community

July 29, 2022

President Joe Biden

‘By Karen Stokes

This year, many Americans have felt the burden of high gas and food prices. However the burden is even heavier on the Black community.

According to the U.S. Bureau Of Labor Statistics, inflation reached 8.5% in March, the highest since 1981. Today, millions of Black Americans are making difficult decisions, sacrificing food, medication, and other necessities to afford rent and transportation.

“When you look at differences by race and the economy you notice a variety of things,” said Heather Boushey at the Council of Economic Advisors. “The unemployment rate is higher for the Black community than the white community and Black families have a lower household income.”

“This is certainly an issue the President has been focused on from day one,” said Boushey. “He has been prioritizing how to ensure as our economy moves forward, that it is equitable and that we see gains in employment and income.”

According to Forbes, 78% of Americans live check-to-check and Black families are disproportionately represented in that statistic.

Heather Boushey at the Council of Economic Advisors (Photo/Bloomberg)

The disparity leaves many Black Americans without the funds to help offset the rising costs and puts greater pressure on their monthly income, economists say. Some economists fear that if lawmakers don’t act soon to fight inflation, Black families may be forced to go without necessities.

There may be help on the way.

The Inflation Reduction Act of 2022 will fight inflation, reduce the deficit, invest in domestic energy production and manufacturing, and reduce carbon emissions by roughly 40 percent by 2030. The bill will lower health care costs by finally allowing Medicare to negotiate prescription drug prices and extend the expanded Affordable Care Act program for three years, through 2025.

“It will make it possible for the government to negotiate on prescription drug prices, that will help lower prices for people on insulin and other drugs, this could be a game changer,” said Boushey.

The Inflation Reduction Act of 2022, legislation is expected to pass through the Senate’s budget reconciliation process next week, according to a statement released by the U.S. Sens. Mark R. Warner and Tim Kaine.

Share:

  • Facebook
  • Tweet
  • Email
  • Print

Popular Interests In This Article: Heather Boushey, Inflation, Inflation Reduction Act of 2022, Joe Biden, Karen Stokes

Read More - Related Articles

  • Creating Safer Communities and Reducing Violence – An Interview with Director Hamilton, Office of Violence Prevention
  • American Heart Association Announces Amanda Baltz as Chair of the 2024 Heart of Milwaukee Campaign
  • Regan, Baldwin Announces President Biden’s Funding to Tackle Legacy Pollution in Milwaukee
  • Milwaukee County Faces Financial Challenge, Seeking State Support for Recovery
  • Recognize Stroke Symptoms, Act FAST to Improve Health

View COVID-19 Resources

Become Our Fan On Facebook
Find Us On Facebook


Follow Us On Twitter
Follow Us On Twitter

Editorials

Lena Taylor
Lakeshia Myers
Rev Jesse Jackson Sr Ashanti Hamilton

Journalists

Mrinal Gokhale
Dylan Deprey
Karen Stokes
Hayley Crandall
Ana Martinez-Ortiz

Topics

Health Care & Wellness
Climate Change
Upcoming Events
Obituaries
Milwaukee NAACP

Politicians

Pres. Barack Obama
Gwen Moore
Tom Barrett
Milele A. Coggs
Spencer Coggs

Classifieds

Job Openings
Bid Requests
Req Proposals
Req Quotations
Apts For Rent

Contact Us

Milwaukee Courier
2003 W. Capitol Dr.
Milwaukee, WI 53206
Ph: 414.449.4860
Fax: 414.906.5383

Copyright © 2023 · Courier Communications | View Privacy Policy | Site built and maintained by Farrell Marketing Technology LLC
We use third-party advertising companies to serve ads when you visit our website. These companies may use information (not including your name, address, email address, or telephone number) about your visits to this and other websites in order to provide advertisements about goods and services of interest to you. If you would like more information about this practice and to know your choices about not having this information used by these companies, click here.