Policymakers must take action to restore Hispanic Americans’ economic security

Washington, DC– As economic indicators continue to suggest that the U.S. is headed toward a recession, Americans’ concerns with the economy heighten and the financial future for many Hispanic Americans is at stake. Though the recent economic stimulus plan puts the economy at the forefront of national priorities, the stimulus does not provide long-term solutions for the most vulnerable segments of the Latino population, according to After Stimulus: Sustainable Economic Security for Latinos, a paper released today by the National Council of La Raza (NCLR).

The Recovery Rebates and Economic Stimulus for the American People Act of 2008 provides short-term assistance to Latinos including tax rebates for workers, incentives for businesses to increase their assets, and a temporary increase on loan limits for qualifying mortgages.

“The economy is the top concern for voters as the nation is in the midst of an election year. Latinos, like other Americans, worry about losing their jobs and their homes,” said Eric Rodriguez, Deputy Vice President of the Office of Research, Advocacy, and Legislation at NCLR. “Congress must act so that Latino workers keep the gains they have made by creating opportunities for workers to become more economically and financially secure.”

While these measures are important first steps, they shortchange many of the nation’s 44.3 million Latinos by excluding provisions for uninsured, low-income, and underemployed Hispanic Americans. NCLR urges policymakers to address trends in four critical areas of economic well-being – nutrition, health care, homeownership, and employment – which threaten to erode Hispanic economic progress.

Concerns about the economy should urge policymakers to address the state of Latino workers this election year. NCLR recommends that policymakers take steps to protect the fragile financial progress of thousands of Latino families in the short term and provide the tools to ensure their economic security in the long term. NCLR has published fact sheets that provide more information on the economic impact to workers: The Status of Latinos in the Labor Force; Five Facts About Undocumented Workers in the United States; Employer-Based Pension Plans: How Latinos Fare; and Employer-Sponsored Health Insurance: Already Poor Access Further Dwindles for Working Latino Families.

Visit www.nclr.org for more information, or to download a copy of the paper or fact sheets.

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