Sen. Kamala Harris announces plan to invest in black homeownership

The plan proposes a $100 billion investment to help families with down payments and closing costs.
1:33 | 07/06/19

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Transcript for Sen. Kamala Harris announces plan to invest in black homeownership
And where going to write what is wrong let's deal with the rate still will get in our country. Which is why today. Here at the essence festival. I am releasing a new plan to start closing the well. And here's how it works so a typical black family has just ten dollars well for every 100 dollars. Held by a white man. So it's right that Iran. And after generations. Of discrimination. Hit black families and you re not at home ownership. Historically. One of the most powerful drivers of wealth in our country. So I will remove the barriers that black Americans face when they go to qualify for a home loan. I will strengthen anti discrimination lending laws and implement stricter enforcement. And outlived best. An island that's. Through the federal government. 100 billion dollars to put homeownership. Within the reach. But those who live in brick red lines communities. And it would help up to full I'm million families with down payments and closing costs. And by taking these steps. We can shrink the wealth gap between black and white households by at least one power.

This transcript has been automatically generated and may not be 100% accurate.

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