President Biden on Tuesday will lay out his administration’s efforts to close the racial wealth gap during a visit to Tulsa, Okla., to mark the 100th anniversary of the Black Wall Street Massacre, in which white mobs killed hundreds of Black people in the city’s Greenwood neighborhood.
Biden will announce an initiative to target federal purchasing power to benefit more minority-owned businesses, and the administration will also detail multiple housing-focused rules that strengthen anti-discrimination measures rolled back during the Trump administration, administration officials said.
The administration will expand contracting opportunities for small disadvantaged businesses, which includes minority-owned businesses. Roughly 10 percent of federal agencies’ contracting money typically goes to small disadvantaged businesses in a typical year, administration officials said.
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