Add all primary ingredients (except cilantro) to a large sauce pan, cover, and bring to a boil. Once boiling, reduce to a simmer and leave covered. Stir occasionally to avoid sticking.
While the rice is cooking, begin dicing and preparing secondary ingredients.
First add the red pepper, green pepper, and the red onion to a separate medium sized pan along with 1/2 tsp of salt and black pepper to taste. Saute until cooked through.
Add the black beans and corn to the veggie mix along with chili powder, cumin, and garlic powder (add additional salt and pepper as needed). Mix well and cook for about 4 minutes.
Once all liquid has evaporated with the rice, fluff with a fork, stir in cilantro, and remove from heat then stir in secondary ingredients.
Serve alone, on a tortilla, or as a side. Enjoy!