Harris proposes $100 billion plan to increase minority homeownership

National News
Kamala Harris

Democratic presidential candidate, Sen. Kamala Harris, D-Calif., speaks at the 25th Essence Festival in New Orleans, Saturday, July 6, 2019. (AP Photo/Gerald Herbert)

CBS NEWS-

2020 Democratic hopeful Sen. Kamala Harris of California introduced an ambitious $100 billion plan to increase minority home ownership.

She was one of five presidential candidates — and the only black woman — on Saturday to pitch herself at Essence Festival, a three-day event geared toward black women. 

“So we must right that wrong and after generations of discrimination give black families a real shot at homeownership — historically one of the most powerful drivers of wealth in our country,” Harris told the crowd at the Essence festival.

Harris’ plan calls for $100 billion Housing and Urban Development (HUD) grant to provide homeowners or homebuyers who rent or live in historically red-lining communities, where minority home and business owners were largely blocked from accessing capital for investment, up to a $25,000 down payment in assistance and closing costs.

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