It has been four and a half decades since Dr. Martin Luther King, Jr. delivered his “I have a Dream” speech that elevated America's aspirations for justice and equality. The nation has come far since then, removing the legal barriers to equality of opportunity in housing, employment, and education, while opening the political process to full participation by people of all races.

Yet it would be foolish to think that Dr. King's civil rights agenda--which in many ways has benefited all Americans--has been fully realized. The overall poverty rate for African Americans is nearly double that of the population at large; annual household income is $12,000 less; and family income nearly $17,000 less. Clearly, removing the barriers to racial equality did not eliminate the income inequality that persists today. 

Since the beginning of the 110th Congress, the Committee on Ways and Means has made the promotion of economic opportunity for all Americans a priority. The Committee has convened a series of hearings to discuss the economic and societal costs of poverty, the viability of tax incentives to finance affordable housing, as well as the economic challenges facing middle-class families. 

In studying the issue of economic security for American workers, we have also examined an issue that I believe is among the most crucial to our nation's future: the disconnection of so many of our young people from high school education and the resulting lack of preparation for the world of work. 

One of the challenges facing us is the absence of a comprehensive agenda for addressing economic mobility that targets our struggling inner cities where work, opportunity and hope have disappeared. We must work with community and religious leaders, policy experts, advocates and ordinary citizens to develop effective and sustainable policy measures that address the impediments to economic opportunity and revitalize our communities. 

To get this process moving, I began a series of monthly forums last spring to discuss issues affecting low-wage workers struggling to keep afloat and educational issues facing young people.   The forum has also examined the benefits of the Earned Income Tax Credit (EITC) and Child Tax Credit for low-wage workers.

Eliminating poverty and income inequality should be a goal of all Americans. Today, 36 million Americans are living in poverty. With the economy threatened by recession, more Americans are at risk of falling behind. We know that poverty imposes significant costs to our overall economy. A study released by the Center for American Progress found that childhood poverty costs our nation $500 billion annually – or roughly 4 percent of our GDP – in lost productivity and earnings, and higher costs associated with poor health and higher crime. These figures should give those who do not feel a moral obligation to eradicate poverty a financial incentive to do so.

In the 1960's, shortly before his death, Dr. King expressed concern that Congress had demonstrated “hostility to the poor” through its appropriation of “military funds with alacrity and generosity,” while providing “poverty funds with miserliness.” Some might argue that little has changed. Our nation spends nearly $9 billion each month on funding the war in Iraq, while 13 million children are living in poverty. 

To honor Dr. King while preserving our global competitiveness, this nation must renew its commitment to justice and equality for all Americans. As an American, I share that commitment, and call upon my colleagues to do the same.