Biden announces plan to combat racial inequalities during speech in Tulsa

TULSA, Okla. — President Joe Biden visited Tulsa on Tuesday to commemorate the 1921 Tulsa Race Massacre and announce plans to try to address racial inequalities.

During his visit, Biden toured the Greenwood Cultural Center, seeing pieces of history dating back to the massacre that burned thriving Black businesses and homes to the ground 100 years ago.

MORE >>> President Biden speaks in Tulsa’s Greenwood District

Biden announced Tuesday that his administration is expanding access to two key wealth-creators – homeownership and small business ownership – in communities of color and disadvantaged communities.

The Biden administration laid out the following plan to combat racial inequities in the U.S.:

  • Take action to address racial discrimination in the housing market, including by launching a first-of-its-kind interagency effort to address inequity in home appraisals, and conducting rulemaking to aggressively combat housing discrimination.
  • Use the federal government’s purchasing power to grow federal contracting with small disadvantaged businesses by 50 percent, translating to an additional $100 billion over five years, and helping more Americans realize their entrepreneurial dreams.

The administration also released new details on Biden’s American Jobs Plan.

  • A new $10 billion Community Revitalization Fund to support community-led civic infrastructure projects that create innovative shared amenities, spark new local economic activity, provide services, build community wealth, and strengthen social cohesion.
  • $15 billion for new grants and technical assistance to support the planning, removal, or retrofitting of existing transportation infrastructure that creates a barrier to community connectivity, including barriers to mobility, access, or economic development.
  • A new Neighborhood Homes Tax Credit to attract private investment in the development and rehabilitation of affordable homes for low- and moderate-income homebuyers and homeowners.
  • $5 billion for the Unlocking Possibilities Program, an innovative new grant program that awards flexible and attractive funding to jurisdictions that take steps to reduce needless barriers to producing affordable housing and expand housing choices for people with low or moderate incomes.
  • $31 billion in small business programs that will increase access to capital for small businesses and provide mentoring, networking, and other forms of technical assistance to socially and economically disadvantaged businesses seeking to access federal contracts and participate in federal research and development investments.

See the full plan here.