As the nation recognizes Juneteenth, we’re looking at the future of reparations

June 19, 1865… More than two years after the Emancipation Proclamation, federal troops marched into Texas to take control of the state and ensure all enslaved people were freed. Juneteenth commemorates the end of slavery in the US — and the US government just made it a federal holiday. Beyond this recognition, lawmakers have been discussing how to make amends. Amid a national reckoning over racial injustice, more attention is being paid to reparations.

• Reparations = The US government compensating descendants of Black American slaves for their labor, an idea that dates back to the Civil War.
• $3B: The value assigned to Black American slaves’ labor in 1860. Academics have struggled to agree on a total value for reparations, with estimates ranging from as low as $17B to as high as $97T.

150+ years later… The economic effects of slavery are still being felt. Even after Emancipation, Black Americans were denied land ownership, home loans, and capital, while segregation affected educational and job opportunities. That all led to the racial wealth gap: the typical white family has 8X the wealth of the typical Black family.

Reparations could take many forms… Including: individual payments, college tuition, student loan forgiveness, and housing grants. Since 2019, cities and states have been making moves toward their own reparations:

• In March, Evanston, IL became the first US city to offer reparations to Black residents. Each qualifying household would receive $25K for home repairs, down payments, and interest or late fees on city property.
• A handful of cities, including Detroit, Providence, RI, and Asheville, NC, have also either approved their own programs or are considering proposals.