Kamala Harris is calling for $75 billion dollars for Black colleges and entrepreneurs. $60 billion to go to the traditionally Black colleges and the remaining $15 billion to help out Black business owners.
This move is purely political. In order to have a chance for the nomination, she must win California, which is holding it’s primary very early this year. The problem is she is currently running third in the polling behind Joe Biden and Elizabeth Warren.
Biden is doing really good with Black voters and my guess is that she is doing this in an effort to dilute his advantage with Black voters.
Sen. Kamala Harris (D-CA) released a $75 billion plan Friday aimed specifically at helping African-Americans overcome the wealth gap. The plan includes $60 billion to historically black colleges and universities (HBCUs) and $12 billion to support black entrepreneurs.
Harris’ latest plan to address the wealth gap calls for pumping $60 billion into HBCUs, like her alma mater Howard, and other “minority-serving institutions” or MSIs, to increase the number of black graduates in STEM [science, technology, engineering, and math] programs.
Under her plan, $10 billion would be allocated to a fund to help HBCUs build out their STEM facilities, while another $50 billion would be provided in a competitive fund to help HBCUs and MSIs do such things as provide students with scholarships, support post-doctoral fellows, build curriculum, and gird cutting-edge research programs.
Harris also said she will provide another $2.5 billion toward HBCU programs that train black teachers.
Harris’ plan also calls for helping African Americans start small businesses by creating a $12 billion “capital grant and technical support” program, with the funds distributed by the Commerce Department’s Minority Business Development Agency.