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Senator Kamala Harris, D-Calif., Announced Saturday that she would invest $ 100 billion in federal housing assistance for black families with the goal of reducing the racial wealth gap. in the United States if she were elected president.
"After generations of discrimination, it's time to give black families a real boost to property," tweeted Harris on Saturday.
In her address to the Global Black Economic Forum Essence, she emphasized the role of homeownership in the growth of wealth in the United States. According to the Harris campaign, she would help 4 million buyers through assistance for down payments and closing costs $ 25,000 from the Department of Housing and Urban Development.
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"If we eliminate racial wealth disparities in homeownership rates, the median wealth would increase by $ 32,113 per household and the wealth gap between black and white households would decrease by 31%" said his campaign.
The program would target residents of marginalized communities – areas in which the Home Owners' Loan Corporation has dissuaded lenders from investing – which his campaign had identified as a disparity manager of wealth.
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"With redlining, households of color receive only 2% of the [Federal Housing Administration] Loans developed between 1934 and 1962, and neighborhoods once marked with a red dash are the scene of deep racial disparities in terms of home value and lending activity, "says the paper. Information from his campaign.
His plan would also aim to increase access to credit by changing accounting standards by providing credit card payments, student loans, car loans and mortgage payments.
The announcement was made after the poll showed him that she was progressing in a conflict with the favorite, former Vice President Joe Biden, about his comments on racial issues.
After targeting Biden in the first Democratic primary debate, his lead dropped in a Quinnipiac poll. The same poll showed that Harris went from 7% to 20% and led Senator Elizabeth Warren, D-Mass.
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Race issues have become a major issue, with many Democrats accusing the administration of bias against minorities. Former Beto representative O 'Rourke, D-Texas, also sought to address racial wealth disparities with a plan that would significantly increase federal government investments in women-owned businesses and minorities.
The hope for 2020 was that its plan would "unlock more than half a trillion dollars" in resources and "spur the development of 200,000 new small businesses owned by women and minorities".
It would also redirect $ 100 billion in federal contracts to small businesses, expand access to mentorship opportunities, open a public credit bureau, and find solutions to expand access to markets and capital.
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