Kamala Harris unveils $100 billion black homeownership plan

Democratic Presidential hopefuls Kamala Harris and Pete Buttigieg are going after the Black vote in major ways by recently unveiling massive plans to increase home ownership and entrepreneurship within the black community.

While at Essence Fest over the weekend, California senator Kamala Harris unveiled a $100 billion plan to increase black homeownership while South Bend, Indiana Mayor Pete Buttigieg shared his plan to encourage black entrepreneurs.

Harris’ proposed plan would offer down-payment and closing cost assistance of up to $25,000 to renters and families living in redlined neighborhoods. It could also help increase the median wealth of black families by $32,000, the New York Times reports.

Pete Buttigeig’ Walker-Lewis plan was named after historic black entrepreneurs Madam CJ Walker and Reginald F. Lewis and aims to close the economic wealth gap through the increase of black businesses. In a private interview with Essence, Buttigieg said the plan would allow those who qualified for Pell Grants an opportunity to have their student loan payments forgiven if they start a business and employ three people within five years. He also called for creating a $10 billion fund to invest in businesses that are started by minorities, Essence reports.