This article makes a case for weak class reductionism. In particular, we advance a theoretical account that largely “reduces” a social construct called race to another social construct called class. Once you acknowledge that race is not itself a prime mover, but rather something to be explained, class as an explanans turns out to be a strong candidate. Before making this case, we distinguish our account from three alternative forms of class reductionism, which we reject: the notions that (1) class is a more fundamental form of identity than race; (2) class is of greater normative importance than race; and (3) race is an epiphenomenon of class, without independent effects. We then argue for one form of class reduction that establishes race as causally dependent on class. In particular, we provide a general defense of functional explanations, argue that capitalist class relations can functionally explain the persistence of race, and finally, delineate the limits of that explanation. Because the nature of functional explanation requires the explanandum to have important effects in the world, this argument puts race at the center of any discussion of capitalist class relations in racialized societies and explains it on the basis of its effects rather than its causes. Nonetheless, as we show in our conclusion, none of these arguments imply that race or racism is inherent to capitalist class relations. Racism may be explained by capitalism, even if it is not necessary for it.