02 Jun President Joe Biden Announces $10 Billion Community Revitalization Fund For Underserved Communities

On the heels of the 100th anniversary of the Tulsa Race Massacre, in the Greenwood neighborhood, where over 1,100 Black homes and businesses were lost, and hundreds of Black people lost their lives, many are still seeking justice for what was once known as ‘Black Wall Street.’ President Joe Biden was in attendance yesterday and spoke to residents condemning the actions of those responsible for the massacre saying “literal hell was unleashed” on the community.

President Biden recognized that the hate and domestic terrorism that happened 100 years ago unfortunately still exists today. Still, he is planning on making significant changes to combat the country’s racial inequality. His administration has tackled many things and now will implement opportunities for small businesses, racial discrimination in housing, and voting rights, according to CNN.

President Biden announced that he would use federal purchasing power to contribute to federal contracting for small, disadvantaged businesses. According to The White House, the emphasis will be on minority ownership, granting them 10% to 15%, which will translate to an additional $100 billion over five years. In addition, the fund will target economically underserved and underdeveloped communities.

Communities impacted by the fund can look forward to the money going towards adapting vacant buildings and storefronts to provide affordable space for services and community entrepreneurs. These services will include health centers, arts, and cultural areas. Other offered services will also include job training programs, business incubators, and community marketplaces. The environment will also thrive by getting rid of toxic waste and creating new parks and community gardens.

Vice President Kamala Harris will lead the efforts on voting rights. This is part of the administration’s ongoing work to resolve efforts in Republican-led state legislatures to pass restrictive voting laws.

Okay, President Biden, we see you!

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