Biden speech commemorating Tulsa race massacre to detail efforts to combat racial inequality

President Biden will detail his administration’s planned initiatives to combat racial injustice on Tuesday during a speech commemorating the 100th anniversary of the Tulsa race massacre.

The president will unveil plans to expand federal contracting with disadvantaged small businesses by 50%, according to senior administration officials. The expanded spending will amount to $100 billion over a five-year span, in a move officials said would help with efforts to close the racial wealth gap. Biden will also tout investments as part of his proposed "American Jobs Plan," including a $10 billion fund to overhaul infrastructure in underserved communities and $31 billion to support minority-owned small businesses. The proposal includes a "Neighborhood Homes Tax Credit" to promote private investments in affordable housing. Biden will direct Housing and Urban Development Secretary Marcia Fudge to lead an interagency review of inequality in the home appraisal process and crack down on housing discrimination. Officials cited statistics showing a gap in valuations for homes located in predominately white neighborhoods compared to homes in predominantly Black or Latino neighborhoods.