President Joe Biden will travel to Oklahoma on Tuesday to mark the 100th anniversary of the Tulsa Race Massacre and announce new measures intended to narrow the racial wealth gap.
During his visit Tuesday afternoon, Biden will outline actions to expand access to two key wealth creators — home ownership and small business ownership — in communities of color and disadvantaged communities, the White House said.
The president also plans to meet with surviving members of the 1921 Tulsa Massacre, in which a White supremacist mob killed hundreds of Black Americans and left thousands destitute and homeless.
On May 31 and June 1, 1921, White rioters ravaged the wealthy Black neighborhood of Greenwood, a hub of Black-owned businesses known as “Black Wall Street,” in Tulsa. The mob destroyed 35 city blocks.
Biden issued a proclamation on Monday to remember the attack and called on Americans to help eradicate systemic racism and further racial justice.
“We honor the legacy of the Greenwood community, and of Black Wall Street, by reaffirming our commitment to advance racial justice through the whole of our government and working to root out systemic racism from our laws, our policies and our hearts,” the proclamation states.
In a speech Tuesday at the Greenwood Cultural Center, Biden will announce efforts to block racial discrimination in the U.S. housing market, including a first-of-its-kind interagency effort to address inequity in home appraisals.
Biden is scheduled to speak at 3:15 p.m. CDT.
The White House said the government also will use purchasing power to grow federal contracting with small disadvantaged businesses by 50%, which it said would result in an additional $100 billion over five years.
Additionally, Biden will provide new specifics on measures in his American Jobs Plan that include a $10 billion community revitalization fund that targets economically underserved communities. The community revitalization fund will support civic infrastructure projects to spark economic activity.
The jobs plan also includes a new Neighborhood Homes Tax Credit to initiate private investment in the development and rehabilitation of affordable homes for low- and moderate-income buyers.
To end housing discrimination, the White House said the Department of Housing and Urban Development will move toward “traditional interpretations of the Fair Housing Act” and “more vigorously enforce the Fair Housing Act.”
Biden will direct HUD Secretary Marcia Fudge to lead the interagency initiative to prevent inequity in home appraisals.
“These are the kinds of policies and practices that keep Black families in Greenwood and across the nation from building generational wealth through home ownership,” the White House said.
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