Kamala Harris Plans On Investing In Black Homeownership

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Kamala Harris Has A Plan To Invest In Black Homeownership

According to CNN, California Sen. Kamala Harris unveiled a $100 billion plan to invest in black homeownership.

Harris would reportedly invest $100 billion of federal money into housing assistance for black families as part of an effort to close the racial wealth gap in the United States.

Harris tweeted:

“A typical black family has just $10 of wealth for every $100 held by a white family,” she said. “So we must right that wrong and, after generations of discrimination, give black families a real shot at homeownership — historically one of the most powerful drivers of wealth in our country.”

Harris’ housing program would come in the form of U.S. Department of Housing and Urban Development grants limited to families with incomes up to $100,000, or $125,000 in high-cost areas.

Harris also pledged to work to expand HUD’s fair housing program, strengthen anti-discrimination lending laws and amend the Fair Credit Reporting Act to require that credit scores include rent, phone and utility payments.