Biden unveils plan to combat racial wealth gap

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Reuters

Biden eyes grants, federal purchasing to narrow racial wealth, home ownership gaps

President Joe Biden will announce steps on Tuesday to narrow the large and persistent racial wealth gap that divides Black, Latino and white Americans, although he will stop short of a cancellation of student loan debt demanded by civil rights groups. Biden, a Democrat, will call for billions of dollars in grants and investments to benefit poor minority communities, as well as a big increase in federal procurement from small, disadvantaged businesses, and a crackdown on housing discrimination, administration officials told reporters. He will unveil the measures during a visit to the Greenwood neighborhood of Tulsa, Oklahoma, where hundreds of Black Americans were massacred by a white mob 100 years ago.

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