Is there still a large wealth gap between Black and white Americans?

Economists estimate that it would cost about $14 trillion to close the racial wealth gap between Black and white Americans. This number provides a lower bound quantifying the deprivation that Black Americans have historically faced. The racial wealth gap has its roots in slavery, Jim Crow laws, and systematic discrimination in access to housing, employment, credit and other important resources for building assets. Advocates for reparations aim to compensate American descendants of slavery for these deprivations, and some states and municipalities have begun budgeting for reparations payments. However, these efforts have so far dedicated only about $3.1 trillion for reparations, suggesting that a federal initiative would be necessary to address the legacy of slavery nationwide.