On the campaign trail, U.S. Vice President Kamala Harris has been laying out her economic policy proposals and seeks to alleviate systemic injustices and provide opportunities to disadvantaged groups, particularly African Americans. She labels it an “Opportunity Economy”, and it seeks to promote economic equity and reduce economic disparities. Her recommendations cover a wide range of topics. We are going to break some of her economic policy plans down and see how she has targeted important sectors, including wealth-building, education, healthcare, housing, and small business support to help African Americans.

Programs to Grow Your Wealth

Prioritizing wealth creation for formerly underprivileged communities is one of Kamala Harris’ major economic policy recommendations. Discriminatory rules and practices have kept African Americans from accumulating money for a long time. To address these inequalities, Harris proposes the following strategy:

1. Supporting Businesses Owned by Black Individuals:
Harris backs efforts to expand Black-owned firms’ access to funding, including a $5 billion grant program. Many small businesses, especially those owned by African Americans, have a hard time getting loans from banks and other traditional lending institutions. This program is an effort to change that. Harris hopes to spur economic growth and job creation in black areas by lending his support to these enterprises.

2. Assisting Homeowners:
African Americans have been victims of discrimination such as redlining for a long time, and Harris is fighting to change that. Among her policies is the expansion of programs that help with down payments and the improvement of mortgage affordability. Harris hopes to assist African American families in achieving economic security and justice by expanding access to homeownership, a key component of wealth-building.

3. Debt Relief for Students:
The disproportionate impact of student loan debt on African American borrowers has prompted Harris to suggest significant reforms aimed at alleviating this issue. As part of her agenda, she intends to alleviate the burden of outstanding debt by streamlining the process of loan forgiveness. Harris claims that if student loan debt is reduced, African Americans will be able to put more money into savings and investments, which will improve their economic situation.

Education and the Development of the Workforce

The importance of education in improving African Americans’ economic prospects is acknowledged by Harris, who views it as a foundational factor. Among her policies pertaining to workforce development and education are:

1. Increasing Opportunity for High-Quality Education:
Harris is in favor of allocating more resources to public schools in low-income areas, where there is a disproportionate number of African American kids. All students should have access to a high-quality education, and Harris intends to do just that by making sure schools have the money to do their jobs.

2. Supporting Institutions with a Black Student Body:
Black American kids’ education is greatly aided by HBCUs, and Harris has advocated for more federal support for these institutions. These organizations could use more money to enhance their curriculum, build better buildings, and provide more student support services. Black American students’ access to and success in higher education and their chosen professions are both bolstered by the strengthening of HBCUs.

3. Apprenticeships and Workforce Development:
Increasing apprenticeships and workforce training programs is something Harris is in favor of, especially in sectors where qualified people are in great demand. African Americans will gain the knowledge and expertise through these programs that will help them land high-paying employment. Harris’ goal is to decrease Black community unemployment and underemployment through promoting job training and career routes.

Obtaining Healthcare

Affordable healthcare is essential to a healthy economy, and Harris has proposed policies to help close the gap between Black Americans and other groups in this regard:

1. Increasing Access to Medical Care:
Harris backs efforts to lower the number of people without health insurance and fights for more affordable healthcare options under the Affordable Care Act (ACA). Harris seeks to improve healthcare access in order to reduce the financial pressures of medical bills, which can have an outsized effect on families of African American descent.

2. Confronting Inequalities in Health Care:
Harris is in favor of measures to reduce health inequalities, such as allocating more resources to community health centers in neglected regions. As a result of the vital healthcare services provided by these centers, health disparities are diminished and overall health outcomes are improved for minority and low-income communities.

3. Assistance with Mental Health:
Harris is in favor of more financing for mental health programs and services since she knows that people’s mental health affects their capacity to maintain steady employment. Better support for people with mental health challenges is Harris’s primary goal in focusing on this area, which is vital for general well-being and economic productivity.

Real Estate

Harris has put out plans to improve housing and infrastructure in an effort to reduce housing insecurity and other living circumstances that contribute to economic instability:

1. Programs to Make Housing More Affordable:
In order to prevent housing discrimination, Harris is in favor of expanding investments in affordable housing. Building more affordable homes and increasing rental assistance programs are two of her goals. Harris seeks to alleviate economic hardship and improve the quality of life for African American families by expanding access to affordable housing.

2. Reviving Neighborhoods:
Harris is a strong believer in improving infrastructure and establishing community development projects to rehabilitate neglected neighborhoods. Jobs, better public services, and more economic prospects in underserved communities can all result from these efforts.

3. Confronting Discrimination in Housing:
Harris has put up policies to guarantee fair housing practices and fight housing discrimination. Among these steps is the provision of assistance to victims of discrimination and the tightening of the grip of fair housing legislation. Harris seeks to achieve a more fair housing market for African Americans by combating discriminatory behaviors.

Support for Small Businesses

Harris has made it a priority in her economic agenda to back small companies, especially those run by Black Americans. Here are some of her suggestions:

1. Facilitating Access to Funds and Grants:
Harris believes that small companies should have easier access to low-interest loans and grants. For African American business owners, who typically encounter roadblocks when trying to secure conventional funding, this is crucial support. Harris hopes that these firms will be able to thrive with the financial aid they get.

2. Guidance and Support in Technical Areas:
Harris is a strong supporter of initiatives that pair mentors with small company owners and offer technical support to those entrepreneurs. For African American entrepreneurs, these programs can be a lifeline, providing invaluable advice on marketing, financial planning, and company administration.

3. Fostering Growth in the Economy:
Incentives for companies to invest in minority neighborhoods are just one example of how Harris backs measures that help minority communities grow economically. Harris seeks to build a stronger and more lasting economic climate for Black American communities by promoting investment and economic engagement.

As African Americans, we confront unique structural injustices and obstacles. Kamala Harris seeks to give remedy to these inequities through her economic policy recommendations. She seeks to make the economy more fair and provide more chances for African American families through programs that target wealth-building, education, healthcare, housing, and supporting small businesses. Her approach demonstrates that she understands the difficulties encountered by disadvantaged groups and has a determination to offer policies that will lead to sustainable economic growth and stability. Harris’ plans provide a road map for promoting economic equality and improving the lives of African Americans nationwide by tackling these critical areas.