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Quick Hit
by Ellyn Fortino
3:26pm
Fri Apr 4, 2014

Report: Credit Score Disparities Contribute To Racial Wealth Gap In Illinois

Residents in predominantly minority communities in Illinois have lower credit scores on average than those in mostly white neighborhoods — and that is a significant contributor to the racial wealth gap, according to a recent report from the Illinois Asset Building Group and the Social IMPACT Research Center at the Heartland Alliance, a Midwest anti-poverty organization.

The credit score gap between white and minority communities fuels racial inequality in the state, the "Trapped by Credit" report concludes.

In general, the report found that communities of color in Illinois are less likely than mostly white neighborhoods to have well-being indicators associated with stronger credit scores, such as higher levels of educational attainment and greater rates of homeownership and employment.

Similarly, communities of color have on average lower levels of "good debt" from student or home loans and higher levels of "bad debt" from sources like credit cards.

Since good credit scores help people gain access to better jobs, homeownership and higher education, "a cycle emerges where low credit scores feed decreased financial and social opportunity, which in turn feeds low credit scores," the report reads.

Quick Hit
by Ellyn Fortino
4:25pm
Thu Aug 22, 2013

Chicagoans 'Out' General Electric For Dodging Taxes, Demand Sen. Durbin Close Loopholes (VIDEO)

Chicagoans from across the city rallied downtown Thursday afternoon to “out” General Electric as a corporate tax dodger and to call upon U.S. Sen. Dick Durbin (D-IL) to take charge and make corporations pay their fair share.

Chicago is one of 10 cities taking part in the National People's Action campaign this week meant to shine a light on various corporate tax dodgers across the county. According to the protestors, GE received $8.4 billion in federal tax breaks between 2008 and 2010.

“Everyday people are suffering while corporate taxes are at historic lows, even though corporate profits are at an all time high,” said Toby Chow, a leader with IIRON.

Quick Hit
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1:36pm
Wed Jul 17, 2013

Op-Ed: Urban Agenda, 'Now Go Out and Make Me Do It' - Facade of Recovery Hides Broad Failures in Urban Areas

The following was written by Dick Simpson, former Chicago alderman and professor emeritus at the University of Illinois at Chicago.

American cities and metropolitan regions are in crisis. Suburbs as well as inner cities.

At Operation PUSH’s International Convention on July 7th, scholars, pubic officials, civil rights leaders, and citizens met to hammer out a new urban and metropolitan agenda to meet this crisis. There has not been a national urban agenda since the Carter administration three decades ago. The Office of Urban Affairs that President Obama opened when he went to the White House has been impotent.

Consider the magnitude of our urban problems. 500 hospitals have closed in the last two decades while three out of four urban emergency rooms are at or over capacity. Our health is at stake.

Not only is Chicago closing 50 public schools but in 2010 public school districts across the country closed 1,929 schools. Charter and private schools are growing instead. Meanwhile, college student loan debts exceed $1 trillion; the average graduating student owes $27,000. Our education system is failing.

There are more African-American adult males in prison, jail, or on parole than were enslaved in 1850 before the Civil War. Prisons have been privatized and we have a now prison-industrial complex housing too many of our residents.

Quick Hit
by Ellyn Fortino
6:06pm
Mon Jun 10, 2013

Report: Future U.S. Economic Growth In Jeopardy Due To Youth Unemployment Crisis

More than 10 million Americans under the age of 25 are out of work or underemployed.

And a new recently-released report from the Center for American Progress warns that the youth unemployment crisis will deliver a significant and long-lasting blow to the country's future economic growth if lawmakers do not adequately address it soon.

"The labor market has failed these kids," said Jack Wuest, executive director of the Chicago-based Alternative Schools Network. "And the private sector doesn't want to deal with them."

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