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Jun 23, 2023

NHCSL Joined First Summit on Economic Future of the Latino Community

From left to right: Del. Joseline Peña-Melnyk (MD), NHCSL's Guillermo Mena, Sen. Cristina Castro (IL), NHCSL's Kenneth Romero, and Rep. Emily Alvarado (WA).

WASHINGTON, D.C. -- Today, Latino leaders from across the nation convened at the United States Department of Treasury for the first ever Investing in the Economic Future of Latino Community Summit to discuss the future, challenges and areas of opportunity for the economic advancement of Hispanic communities.

The convening brought together leading Hispanic organizations from across the country, like National Hispanic Caucus of State Legislators (NHCSL), Hispanic Federation, United States Hispanic Chamber of Commerce, UNIDOS US, and the National Association of Hispanic Real Estate Professionals, as well as lawmakers at all levels of government, with a special keynote address by Sen. Bob Menendez (D-NJ).

Guillermo Mena, NHCSL’s Director of Policy, chaired a breakout session to discuss Advancing Wealth and Financial-Being. “Latinos are disproportionally renters and homeownership is a pipedream for many Hispanic families. Many of them live in multigenerational households as well, more than any other demographic group. Crafting financial and fiscal policies and products that seek to facilitate homeownership is poised to be a gamechanger to advancing wealth in our communities. There are things that we can do to make it happen, it just needs to be prioritized”, stated Mena.

NHCSL’s Executive Director, Kenneth Romero, participated in a breakout session to address Fairness in Tax Administration, where he emphasized that "This powerful convening will create new economic opportunities for Hispanics: wealth and financial well-being, fairness in tax administration, and access to capital for small businesses."

This summit was part of the Department of Treasury’s efforts to implement executive orders related to racial and economic equity, including 14045 on the White House Initiative on Advancing Educational Equity, Excellence, and Economic Opportunity for Hispanics and 14091 on Further Advancing Racial Equity and Support for Underserved Communities.

Watch the panel discussions here and read NHCSL’s resolutions about Housing; Banking, Insurance and Credit; and Taxation.