President Joe Biden will address the Rev. Joe on Friday to discuss his efforts to close the “racial money gap.” Al Sharpton’s National Action Network’s 2024 agreement.
Before the 2024 general election in November, Biden and former president Donald Trump are locked in a dead heat, and polls show that his reputation among black and Latino citizens has declined since he took office in 2021.
The president may specifically make reference to new data released by the Federal Housing Finance Agency in his Friday conversation, which will be delivered electronically. It will reveal that the “appraisal divide” has decreased by more than 40 % since 2021. White House officials claim that homes in predominantly black and Latino neighborhoods were “undervalued” in comparison to majority-white neighborhoods, and that closing or completely closing the appraisal gap would close the racial wealth gap by 16 % when compared to black and white households and by 41 % when compared to Latino and white households.
The leader had previously proposed the establishment of the Interagency Task Force on Property Appraisal and Valuation Equity at the jubilee celebration of the Tulsa race murder, arguing that lower ratings make it more difficult for affected individuals to create wealth.
However, higher ratings will result in homeowners having to pay more in property taxes because they are based on evaluation rather than the selling prices of real estate.
Biden is expected to even mention how his presidency managed to increase national contracts with “disadvantaged” companies and continues to fight to end student loan debt, which the president claims affects majority borrowers more than bright borrowers.
Earlier in the day, the president unveiled an additional$ 7.4 billion in student loan forgiveness, affecting nearly 300, 000 borrowers. In full, Biden has forgiven more than$ 153 billion in federal student loan debt for more than 4 million consumers.
80 % of Congressional Republicans are opposed to a plan that would turn the country backwards, the White House stated in a letter released before Biden’s speech.” While the President and Vice President continue to work toward closing the racial wealth gap and creating more opportunities for all Americans,” the White House stated. ” Their strategy may defund the President’s executive orders on cultural capital, while cutting Medicare, the Affordable Care Act, and Social Security— raising the Social Security retirement years in the process. Republicans in Congress would also reverse billions of dollars in opportunities and tax breaks that support small businesses as they transition to a fresh market.
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The White House also said that the Republican strategy may “also increase prescription medication, power, and housing costs, while fighting for tax giveaways for the very rich and great corporations”.
You can watch Biden’s remarks in full here.
