Democratic presidential candidate Kamala Harris is proposing $100 billion in federal grants to pay for down payment and closing costs to help close what she says is a racial wealth gap and address historical discrimination in homeownership against black families.
Harris announced her plan Saturday at the Essence Festival in New Orleans, where the California senator was among several of the 2020 White House candidates attending the largest annual gathering of black women in the country.
“By taking these challenges on, we can close that gap,” Harris said. “That not only lifts up black America, that lifts up all of America.”
Harris said the plan would help at least 4 million families living in areas that were redlined, a segregation-era practice that limited black borrowers’ ability to buy homes and set boundaries on where they can live, affecting the wealth of those families for generations.
Harris’ plan would address federal policy on how credit scores are calculated to include payments made on rent, telephone bills and other utilities to increase credit access for minority borrowers.
One of Harris’ Democratic rivals, Massachusetts Sen. Elizabeth Warren, has renewed her push against housing discrimination by reintroducing legislation this year that would, among other things, provide down payment assistance and bolster a law designed to help make credit available to people with low- and moderate incomes. Another 2020 candidate, New York Sen. Kirsten Gillibrand, has signed on to the American Housing and Economic Mobility Act.
(AP)
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6 Responses
This is a fantastic idea – I wonder why nobody thought of it before Ms. Harris.
This proposal will result in:
1. The black community sinking further into its entitlement perspective where they consider themselves as victims entitled to be supported by taxpayers which further distances them from assuming responsibility for their actions and keeps them impoverished.
2. The next financial crisis coming sooner than we expected as millions of people are extended credit when they don’t deserve it, plunging the country into recession once again as in 2008.
3. Professional politicians doing again what is not in the best interests of our country in order to curry favor with a particular voting bloc.
Will she pay my mortgage too? I’m in…
Heading towards a cliff. But this is typical Democrat lingo and policy – free money. I have yet to hear any of the Dems candidates say anything reasonable. So far, they are telling illegals, criminals, etc. to come here, vote for them, take my money, and accomplish nothing. America is doomed.
$100,000,000,000 FOR RACIAL PAYMENT TO GET A NEW HOUSE,
REPARATIONS
HEALTHCARE FOR ALL
LET EVERYBODY IN
HAY stupid where is all of this money coming from the MONEY FAIRY. I understand from the money that is left under your pillow as your teeth fall out. Get over it President Trumps knows the art of a deal; the democraps know the art of
buying people off for votes
$100 BILLION for crack houses and welfare queens? did’t we have this before?
WHY NOT? IT’S NOT HER MONEY.