Senate Tax Bill Will Permanently Raise Taxes on Working Americans to Fund Tax Cuts for the Wealthy

GOP Tax Plan | Senate Tax BillWhile Americans are gathering to give thanks this week, Senate Republicans are rushing to pass a tax plan that would give large tax cuts to the wealthy, drive up the federal deficit, and make it harder for working families, including millions of Latinos, to make ends meet.

Unfortunately, this is no surprise.

Continue reading

The Next Director of the CFPB Must Continue Richard Cordray’s Work to Defend Consumers

Richard Cordray | CFPB

CFPB Director Richard Cordray will leave the agency at the end of the month.

Last week, Richard Cordray announced his resignation from the Consumer Financial Protection Bureau (CFPB), where he served for nearly six years as the agency’s first director. The CFPB is the only federal agency with the sole purpose of protecting consumers, an incredibly important function for all Americans in the wake of the financial crisis.

Under Cordray’s leadership, the consumer agency has helped put Latino families, and all Americans, on a path to greater financial security through its enforcement work. For example, about a dozen CFPB actions have been made against financial companies that demonstrate clear evidence of charging minority borrowers more for products. For example, in 2013, the CFPB ordered:

Altogether, the CFPB has returned about $12 billion in relief to 29 million consumers. We thank Cordray for this service and call for his replacement to defend and extend the bureau’s work to protect American consumers.

Continue reading

The High Price of the GOP Tax Plan

By Stephanie Presch, Content Specialist, UnidosUS

UnidosUS supports tax reform that puts more money in workers’ pockets. Unfortunately, that is not contemplated in the GOP tax plan.

The GOP tax plan takes a swipe at everyone but the wealthiest Americans and corporations. It’s a morally reprehensible plan that would deliver between $10 and $40 in tax cuts to the bottom two-fifths while cutting taxes by $278,370 for the top 0.1%.

Hispanic family | GOP tax plan“This plan benefits the wealthiest, and wealthy corporations, especially Donald Trump and his own cabinet,” Jeremy Slevin, Associate Director of Advocacy for the Poverty to Prosperity Program at the Center for American Progress told attendees yesterday at a briefing hosted by UnidosUS on Capitol Hill to educate congressional staffers and allies on how the GOP tax plan will affect Latino families across the United States.

Continue reading

GOP Tax Plan Rewards Wealthy at Expense of Working Families

The tax plan released today by House Republicans has generated negative reactions from advocate groups, academics, journalists, Democratic lawmakers, and even one Republican senator. The GOP tax plan would give a shameful deficit-busting tax cut to the wealthiest Americans at the expense of working families.

UnidosUS is committed to ensuring that the tax code puts more money in workers’ pockets. That’s why we’re opposed to any plan that robs families of their hard-earned money in order to line the pockets of the already wealthy.

Continue reading

On This Latina Equal Pay Day, Let’s Remember That Hispanic Women Must Work 306 Extra Days a Year to Reach Pay Parity with White Men

Gender Pay Gap | UnidosUS BlogAttention around the gender pay gap—by which the average full-time female worker earns only 80 cents for every dollar earned by a male—has rightfully increased over the last few years.

But there is less awareness about the gender wage gap by race.

Women in general earn 80 cents for every dollar a man earns. This represents nearly $10,500 in lower annual earnings, or around $875 a month. That’s enough to pay a month’s rent in some areas of the country.

But the gender pay gap by race shows how women of color must work even harder to make the same amount as white, non-Hispanic men. Continue reading

FHFA Takes Key Step to Improve Language Access in the Mortgage Market

Last week, the Federal Housing Finance Agency (FHFA) made a key decision to include a question that asks a borrower his or her preferred language on the updated standard mortgage application. We and our partners in the civil rights community applaud this critical fix to the mortgage application process.

This is how the question will appear on the updated mortgage application:

Updated mortgage application sample

Continue reading

New Overtime Rule to Boost Economic Outlook for America’s Middle-Class Latino Families

From 1975 until yesterday afternoon, American workers making more than $23,660 per year were ineligible for federal overtime protection. Thanks to an update to that rule from the U.S. Department of Labor, the threshold on overtime pay has now been raised to include all employees earning less than $47,476 per year.

TimeforOT_Sharegraphic-02 (2)Approximately 12.5 million Americans will now be able to benefit from overtime pay. Of those, more than two million Latinos, or one in three of all salaried Latino employees, will be eligible for overtime, according to the Economic Policy Institute.

The news of the updated overtime rule is a welcome respite for American workers who, for too long, were working well over 40 hours per week without receiving appropriate compensation. The rule will also go a long way to closing the extreme pay gap felt by women and minorities.

“We are very pleased that the administration has acted on behalf of America’s workers who are the backbone of our economy. The rule will help ensure middle-class workers are able to see a greater benefit from their hard work. This rule will not only help individual families better meet their own needs, but will create additional economic stimulus and spending that will improve our nation’s overall economic outlook,” said NCLR Vice President Eric Rodriguez.

More information about the updated overtime rule and overtime coverage can be found on the the Department of Labor’s website.

March adds 215,000 jobs; unemployment jumps slightly.

According to the United States Department of Labor, the American economy added 215,000 jobs in March. February saw the addition of 245,000 jobs, which led to some discouragement. The national unemployment rate rose slightly to 5 percent, following a four-month decline, while Latino unemployment rose to 5.6 percent.

March Jobs Report

Among all sectors of the economy, the retail sector saw the greatest growth in March, adding 48,000 jobs. Latinos make up a greater share of retail employees compared to their representation in the total workforce.

Continue reading