NEW ORLEANS (AP) — Democratic presidential candidate Kamala Harris is proposing $100 billion in federal grants to pay for down payment and closing costs. She says her plan would help close what she says is a racial wealth gap and address historical discrimination in homeownership against black families.
Harris announced her plan at the Essence Festival in New Orleans. The California senator is among several of the 2020 White House candidates attending the largest annual gathering of black women in the country.
She says the plan would help at least 4 million families living in areas that were redlined. That's 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.