Support Minority, Women, and Low-Income Banks & Credit Unions

Black banks have long served low- and moderate-income neighborhoods by providing mortgages, opportunities to build credit, and welcoming places to deposit earnings,
but they are now in danger of disappearing.  The New Market Tax Credit (NMTC), a venture capital program intended to attract investment to these lower income neighborhoods which need it the most, has instead
put money in the pockets of a few wealthy developers.  Additionally, the Great Recession hit black banks hard.  Creative Investment Research, a firm that monitors minority-owned financial institutions, found that nearly a quarter have gone out of business,
and predicts there will only be seven left in the entire country by 2028 if the status quo does not change.

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SHADOW DAY 2020 SIGN UP

The Congressional Caucus on Foster Youth is excited to announce the eighth annual Foster Youth Shadow Day.
We hope that you will participate by providing a foster youth the opportunity to shadow you for at least 4 hours Wednesday, June 10, 2020.

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Support Minority, Women, and Low-Income Banks & Credit Unions

Black banks have long served low- and moderate-income neighborhoods by providing mortgages, opportunities to build credit, and welcoming places to deposit earnings,
but they are now in danger of disappearing.  The New Market Tax Credit (NMTC), a venture capital program intended to attract investment to these lower income neighborhoods which need it the most, has instead
put money in the pockets of a few wealthy developers.  Additionally, the Great Recession hit black banks hard.  Creative Investment Research, a firm that monitors minority-owned financial institutions, found that nearly a quarter have gone out of business,
and predicts there will only be seven left in the entire country by 2028 if the status quo does not change.

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Cosponsor the Legal Assistance to Prevent Evictions Act of 2020

More than 6,300 Americans are evicted every day—nearly one eviction every four minutes.  Low income women, especially racial minorities, are at particularly high risk of eviction.  Nearly one in three American households pay more than 30 percent of their
income on housing—the standard measure of affordability—due to household incomes failing to keep up with climbing rents.  For one in six households, more than half of their income goes to housing.  Families cost-burdened by unaffordable rent are just one bad
break away from eviction.

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Join roundtable with Venture Capitalists on the state of the American entrepreneurial economy

Please join me at a roundtable discussion about the state of the American entrepreneurial economy from 2:30-3:30PM on Weds., Feb. 26 in the U.S. Capitol Visitor Center – Congressional Meeting Room North (CVC 268). From 21st century jobs to climate
change and market competition, entrepreneurial activity affects a broad range of critical policy priorities, often in ways we may not even appreciate. This panel will provide an overview of the mechanics of the startup ecosystem, explore how startups affect
these and other issues, and discuss ways policy can improve these efforts to effect positive change.

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