What does this mean and what happened the last time the government interfered in the marketplace to obtain their desired outcome?
Biden’s plan focuses on two key creators of wealth: homeownership and small business ownership.
Under his proposal, the Department of Housing and Urban Development will propose new regulations ‘to root out discrimination in the appraisal and home-buying process,’ according to a White House fact sheet, in a bid to boost black home ownership.
The administration also is seeking to address disparities that result in black-owned homes being appraised at tens of thousands of dollars less than comparable homes owned by whites.
And the president vowed to use the power of federal contracts to invest $100 billion over five years into minority-owned businesses by increasing the share of federal contracts awarded to those businesses by 50% by 2026.
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On his trip, Biden will be joined by members of the Congressional Black Caucus.
The Tulsa visit comes a week after Rep. Hank Johnson, a Georgia Democrat, introduced the ‘Tulsa Greenwood Massacre Claims Accountability Act,’ which would help victims and their descendants seek reparations from the government.
Speaking of Tulsa, a march was held on Saturday to honor those who were killed in the 1921 massacre. Don’t misunderstand me: What happened then was a terrible crime against blacks in Tulsa and there is nothing wrong with commemorating that incident.
What I want to point out is the way in which these marchers are armed. Can you imagine what would be said if this was a group of white people protesting on Jan. 6?