Bloomberg Pitches Program to Boost Black Economic Progress
Michael Bloomberg unveiled a plan Sunday to invest $70 billion in low-income neighborhoods throughout the country, increase the number of black homeowners, and double the number of African-American owned businesses if hes elected president.
As someone who has been very lucky in life, I often say my story would only have been possible in America and I think thats true, Bloomberg said in his speech. But I also know that my story would have turned out very differently if I had been black, and that more black Americans of my generation would have ended up with far more wealth, had they been white.
Bloombergs plan is aimed at luring African-American voters, who overwhelmingly support former Vice President Joe Biden in the race for president. Biden has the support of 48% of black voters nationally, according to a national Washington Post-Ipsos poll released this month.
Bloomberg said that if elected, he would launch programs to boost 100 of the countrys poorest neighborhoods by investing in them over five years through a coordinated federal campaign. Bloombergs plan would create a new Neighborhood Equity and Opportunity Office, based in the White House, to coordinate among participating federal agencies.
https://www.bloomberg.com/news/articles/2020-01-19/bloomberg-pitches-program-to-boost-black-businesses-homeowners