Staff Reports
In an exciting speech at the National Action Network’s 2024 convention, President Joe Biden is set to tout his strides in narrowing the “racial wealth gap.” The convention, hosted by the Rev. Al Sharpton, promises to be an electrifying event, a real sizzling fiesta of ideas and visions!
Biden, who’s in a neck-and-neck race with former President Donald Trump, is determined to showcase his efforts to level the playing field for all Americans. The latest polling data suggest that his support among black and Latino voters has slipped a bit, but hey, it’s a rocky road to unity.
During his speech, the president will be jazzed up about the new data from the Federal Housing Finance Agency showing the “appraisal gap” has slimmed down by over 40% since 2021. It’s like witnessing a magic trick – poof, the gap is shrinking! The White House squad spills the beans that homes in neighborhoods predominantly inhabited by black and Latino folks have been undervalued compared to majority-white neighborhoods. As if that wasn’t enough, Biden’s crew adds that closing or nixing the appraisal gap would cut the racial wealth gap by 16% between black and white households and by a whopping 41% between Latino and white households.
And that’s not all, folks! Remember when the president talked about the Interagency Task Force on Property Appraisal and Valuation Equity at the Tulsa race massacre commemoration? Well, he meant business! The lower appraisals make it tough for affected families to make bank, but watch out, ’cause higher appraisals mean homeowners will have to fork over more dough for property taxes. Cha-ching! That’s how the cookie crumbles.
But wait, there’s more! Biden is on fire, ready to showcase how his crew met their goal of increasing federal contracts with “disadvantaged” businesses and are still battling to scrap student loan debt, which the president says hits minority borrowers harder than their white counterparts. He even announced a whopping $7.4 billion in student loan forgiveness for nearly 300,000 borrowers in one fell swoop. Talk about generosity!
Now, the White House isn’t shy about calling out the opposition. They claim that a whopping 80% of Congressional Republicans are gung-ho about dismantling the President’s executive orders on racial equity, while also slashing Medicare, the Affordable Care Act, and Social Security. Yikes! The Republicans apparently want to hike up prescription drug, energy, and housing costs while showering the very rich and big corporations with tax giveaways. It’s a real tug of war, folks!
You can catch all the action of Biden’s speech right here, and boy, you won’t want to miss it! Let’s hope this convention is a blast – who knew politics could be so thrilling?
