Former Vice President Joe Biden delivered a speech Tuesday in Wilmington, Delaware during which he debuted his economic plan for “advancing racial equity.”
The plan — the fourth of Biden’s five-part Build Back Better agenda — specifically seeks to direct investments into black, latino, and Asian communities by reforming two moves celebrated by President Donald Trump and his allies for advancing the economic interests of black and other minority communities.
US Democratic presidential candidate and former Vice President Joe Biden (Photo by ANDREW CABALLERO-REYNOLDS/AFP via Getty Images) (RELATED: Trump Accuses Biden Of ‘Plagiarizing’ His ‘Buy American’ Plan)
“In nearly every case, it is a fact that local governments are more adequately equipped to deal with their community’s unique needs than any unelected bureaucrat in Washington,” Carson told Daily Caller of the recent decision, arguing the 2015 rule actually steered HUD grants away from communities that need them most. “President Trump made a promise to preserve America’s neighborhoods, I am pleased to report that promise has been kept.”
WATCH:
I’m in Wilmington, Delaware, to unveil the fourth plank of my Build Back Better plan. Tune in as I discuss what my administration will do to advance racial equity in our economy: https://t.co/NTZviQqUX5
— Joe Biden (@JoeBiden) July 28, 2020
Biden also intends to install a $15,000 tax credit for first-time home buyers, “leverage more than $150 billion in new capital and opportunities” for minority-owned small businesses, “spur” $50 billion in venture capital for new minority businesses, and additionally provide minority communities access to resources and technical assistance.
Biden campaign officials did not immediately respond to Daily Caller inquiries on how the plan will be funded. You can read the entire plan here.
US Democratic presidential candidate and former Vice President Joe Biden speaks during a campaign event at the William “Hicks” Anderson Community Center in Wilmington, Delaware on July 28, 2020. (Photo by ANDREW CABALLERO-REYNOLDS/AFP via Getty Images)
The Trump campaign harshly criticized Biden’s plan in a Tuesday afternoon statement, claiming the former vice president “indiscriminately [spread] economic misery for all Americans” across his decades-long political career.
“It’s time for Joe Biden to exit the stage and his brand of condescending, ‘acceptable white liberal racism’ can go with him,” campaign surrogate Kristina Pierson. “President Trump has a true record of accomplishment for Black Americans, including attaining the lowest unemployment rate ever, providing record funding for HBCUs, supporting school choice, and achieving real criminal justice reform.”