In order to confront the challenges faced by the almost 5 million small businesses in California and the economic devastation that can result from COVID-19, a bold comprehensive plan is needed by California’s elected leaders.
Homeowner and Tenant Protections
Protect first time home buyers, access to home ownership and familial wealth generation so that families can recover more robustly and be more resilient in the face of an economic recession.
Supporting Immigrant Workers
Remove the exclusion of immigrant filers in the CalEITC.
Even during the best economic times, high-cost payday and installment lenders prey upon the financially vulnerable and trap them in triple-digit interest debt, leaving them far worse off than when they started.
CRC In Action
We recommend immediate stop gap measures to assist the hardest hit low wage workers and their families in this public health crisis.
We Need To Hear From You
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Resources and services to help individuals, small businesses and institutions cope with these challenges.
In The News
We are changing the narrative and making waves in the news. Check out our work highlighted in the news.
COVID-19 Response: Resources and Updates
Crises are not equalizers. People of color are likely to suffer the deepest economic impacts from the COVID-19 pandemic. The housing crisis of the Great Depression shows us how the greatest wealth losses occurred in Latino and African American households. We can expect the same during this crisis and must target our solutions and resources accordingly.
We are calling for a comprehensive response to COVID-19 to ensure America’s working families are able to withstand the economic shock that is just beginning and threatens to be long lasting. Read our most recent email in response to the proposed CARES Act.
CRC Calls On Governor Newsom To Take Action
On behalf of our 300 community based member organizations, we at the California Reinvestment Coalition (CRC) write to urge you to consider the following to protect the state’s most vulnerable, immigrants and communities of color from economic ruin brought on by the necessary lockdown in response to the spread of novel coronavirus, COVID-19. In a state that has experienced sudden devastation due to natural disasters such as fires and earthquakes, we recommend the following as both immediate stop gap measures to assist the hardest hit low wage workers and their families in this public health crisis, and as a way to ensure that in future climate and natural disasters working families are prepared to withstand economic impacts.
Bail Out the People Plan
CRC is calling for a comprehensive response to COVID19 to ensure America’s working families are able to withstand the economic shock that is just beginning and threatens to be long lasting.
A comprehensive and commensurate response to COVID19 will require that the nation’s wealthiest, largest institutions, those that have profited off the backs of working families, sacrifice the most during this time of greatest need.
Wells Fargo and JP Morgan Chase announced COVID19 relief that amounts to less than half their CEO pay and .00185% of their net assets respectively. So far, other banks have not made any commitments at all. If we are truly in this together, then banks are a part of the solution. They can do better and must do so immediately.
CRC’s demands for COVID19 for both government actors and the nation’s banking system. We are in this together.
Click on the images below to download our demands.