OF F I C I A L SU MMAR IZE D V E R S ION

Introduction
As citizens and lawmakers both, we are joining to demand the Contract with Black
America be addressed immediately to finally create the “more perfect union” all
Americans deserve. As such, it is time for a complete paradigm shift in how we
run our institutions and operate our country. The problems facing America are
too deep and wide to simply reform one area or another. Long-lasting solutions
demand a comprehensive thorough “rethink” of America so that each new
approach in each area supports the success of the others. This Contract with Black
America will provide conceptual approaches in several areas.

Darrick Hamilton, in the Preface to the Contract, says “This Contract with Black America strikes at the heart of racism and
presents a blueprint to achieve racial economic justice. It was written in the backdrop of the killing of George Floyd, which
set off a wave of protests not seen since the Civil Rights Era of the 1950’s and '60’s, and a global pandemic in which the Black
mortality rate is more than double the White rate and in which 45% (nearly half) of Black-owned businesses closed. That the
impact of something presumably random, such as a pandemic, however catastrophic, can be so linked to one's racial identity
is highly problematic – and further evidence that, as a nation, we are failing miserably. This links to a larger political and
economic vulnerability, whether we’re in a pandemic or not: the immoral devaluation of Black lives has been ingrained in
America's political economy and is long overdue for a reckoning. This Contract with Black America is a patriotic pathway to
promote our shared prosperity and achieve racial economic justice.” Ambassador Andrew Young is equally supportive. “The
Pandemic has revealed to us the importance of the essential worker of which many are minorities. We can grow no stronger
without improving the sustainability of those at the bottom of the economic pyramid. The Contract for Black America is a
comprehensive step toward an action plan that addresses the future stability of minorities and essential workers across the
nation.”

To address racial inequality, after reading the Contract with Black America, we the undersigned agree to support and demand
an open debate and a clear and fair vote within the first 100 days of the 117th Congress in 2021 on the following proposals to
be codified into specific bills:

1 Bill to Guarantee Black Opportunity and Representation.

Adopt a plan of “Neo-Reconstruction” to redress past wrongs systematically imposed on Black Americans economically
throughout many generations that has resulted in a “wealth gap” where the average White family has 10x the wealth of a Black
Family. In addition to some of the economic initiatives listed below, also formally apologize to Black Americans for past
discrimination and slavery. Additionally Black opportunity and representation will include: Affirmative Action in schools
public and private; per student funding in states on an equal basis instead of paid by local property taxes; Black representation
on all government civil rights bodies; civil rights classes mandatory in elementary schools; Gerrymandering reform; additional
polling places in Black and minority neighborhoods; Juneteenth to become a Federal holiday.

2 Bank Lending Reform.

Bank lending will be regulated to require banks to lend a percentage of all loan and credit categories on an
equal basis to the Black population each Bank serves. However, the minimum threshold must yearly meet the
percentage equal to the national Black population (currently approximately 13.4%). Rates on Black loans
federally and from banks to be same average rates as Whites.

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3 Federal Funding of “Baby Bonds”.
Pass federal program providing every child with a government funded trust account at birth starting with a $1,000 contribution.
As proposed by Senator Booker and Representative Pressley, accounts to be managed by the Treasury and only those born into
lower-wealth families would receive more contributions each year up to $46,500 total. At age 18 access to the funds allowed but
use restricted to asset enhancing actions such as buying homes, starting businesses and funding education.

4 Federal Reserve and Government Pensions.

For qualified Black Americans, Federal Reserve to allow a one-time interest free loan for home ownership. The Fed to ensure
Banks and institutions it oversees comply with Bank Lending Reform. Fed to adopt Modern Monetary Theory with goal of Full
Employment and avoidance of Actual Inflation. Federal and State pension funds control over a trillion dollars. They must
allocate 13.4% of their investments into Black owned enterprises and businesses. Venture Capital and Private Equity funds that
take money public entities must invest 13.4% of their total funds in Black owned businesses.

5 Finance Oversight.
A Banking Commission (or even a Cabinet or Sub-Cabinet post) will be set up to overlook and report on Black and minority
lending, housing ownership and mortgages, and enforcement of items 2 and 3 above. Such authority will also oversee and audit
federal programs such as Economic Opportunity Zones and Community Reinvestment Act (CRA) to determine who is benefiting
from disbursement of such funds. Will provide for a transparent reporting mechanism for abuses to economic programs
designed to benefit communities in need.

6 Personal Data and Credit.

Most states publicly release bulk data about arrestees unchecked. Like the 1970 Fair Credit Reporting Act regarding credit data,
there must be guidelines regarding arrest records that allow similar privacy and accuracy protections and the right to dispute
and correct inaccurate data. Credit services will be reformed to mandate consideration of individual consumer data on rent,
utility, cellphone, and other like bill payments.

7 Prison Reform.
Privately run prisons will be abolished, prison labor disallowed without consent, and nonviolent offenders incarcerated for 10
years or longer will be freed if good behavior standards met. All prisoners for marijuana possession freed. First offense for
illegal drug use or possession to require government payment for entry into an approved drug rehabilitation program rather
than imprisonment. Once any prisoner completes sentence, voting rights are restored.

8 Judicial Reforms.
Eliminate mandatory minimums and three strike laws. The Civil Rights Division of the Department of Justice reformed through
stricter guidelines and greater oversight over police departments. DOJ can be sued for non-compliance. Lynching to become a
federal hate crime and the Ku Klux Klan declared a terrorist organization.

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9 Police Reform Act.
Police reforms will be implemented in an expansive act that will at minimum include: Elimination of Qualified Immunity;
requirement of mandatory malpractice insurance for police officers; make municipalities liable for unconstitutional actions by
police; mandatory use of dashboard and body cams; elimination of chokeholds and “no-knock” warrants; establishment of
residency requirements, de-escalation training, and requirement to update training; severe penalties for evidence tampering
including withholding DNA. A federal database of police and disciplinary records established and made public and once fired for
cause cannot be rehired. Creation of Office of Independent Prosecutors to solely focus on prosecuting police accused of
wrongdoing. Other reforms as listed in greater detail in the Contract with Black America.

10 FCC Licensing of public airwaves.

Broadcast networks will be required to air Black produced content equal to 20% of the total content on the network as measured
by time.

11 Confederate Monuments and Institutions.

Elimination of all Confederate statues and uses or displays of Confederate flags on government grounds or property with public
access. Rename all streets, schools, public structures, etc. named after Confederate soldiers or leaders. A memorial will be built
in Washington D.C. to victims of police excessive force.

12 AJP Program for Education and Jobs.

Adoption of AJP, A Public/Private program that provides access to jobs and education and/or training for people willing to put in
the work and commitment.

13 Black Responsibility.
Chronic poverty creates an atmosphere full of negativity, frustration, hopelessness, depression, alcoholism, drug abuse, crime,
and violence. These are some of conditions that plague the Black Community which is dealing with extreme generational
poverty. As we begin to gain social and economic equality it is our duty to clean up ourselves and our community. This contract
is a 2-way street. As we gain social and economic equality, we must begin to dissolve any bitterness in our hearts for past
wrongs. We must become better citizens who are more productive on all levels of American society. We really must step up after
we pass the Contract with Black America with no more excuses left in the kiddie. Our entertainers should be persuaded to
deliver more positive content that leads our youth to make better choices in life. A new pride must develop with these new
opportunities and we must fight against negativity, frustration, hopelessness, depression, alcoholism, drug abuse, crime, and
violence.

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