National ACE on Discriminatory Legislation

National ACE is disheartened to hear about the rise of legislation in several states aiming to limit citizens of certain Asian countries from purchasing or acquiring property in their states. As written, such bills would deny Asian green-card holders, on the path to becoming American citizens, the right to own homes or start small businesses. 

Homeownership and small business-ownership are two major pathways to intergenerational wealth creation in the United States. As the fastest growing ethnic group in the country, Asian Americans and Pacific Islanders (AAPIs) comprised 39% of all new people who became lawful residents in the United States in 2020, with 71% of Asian American adults being born in another country. As one in ten firms in the country are owned by AAPIs, the AAPI population has contributed $874.4 billion in economic output and created 5.1 million jobs.

We believe that this kind of legislation will not just be devastating for the Asian community in the United States, but for the broader economy as a whole. Amidst ongoing violence and polarizing rhetoric targeting the AAPI community, it is our hope that the local legislatures will leverage good judgment, and not move such bills forward as written. We look forward to supporting our local partners in their advocacy against this legislation.