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left-of-center2012

(34,195 posts)
Wed Jan 22, 2020, 10:58 AM Jan 2020

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 he’s 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 that’s 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.”

Bloomberg’s 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 country’s poorest neighborhoods by investing in them over five years through a coordinated federal campaign. Bloomberg’s 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

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