{"id":2219529,"date":"2024-04-12T15:09:02","date_gmt":"2024-04-12T19:09:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-touts-progress-on-racial-wealth-gap-that-may-come-with-more-property-taxes\/"},"modified":"2024-04-12T15:10:50","modified_gmt":"2024-04-12T19:10:50","slug":"biden-touts-progress-on-racial-wealth-gap-that-may-come-with-more-property-taxes","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-touts-progress-on-racial-wealth-gap-that-may-come-with-more-property-taxes\/","title":{"rendered":"Biden highlights strides in closing racial wealth gap, potentially leading to increased property taxes"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbiden-touts-progress-on-racial-wealth-gap-that-may-come-with-more-property-taxes%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2219529&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>President Joe Biden is\u200c set to address the issue\u200d of closing\u2064 the &#8220;<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/four-dangerous-new-democrat-bills-that-you-probably-havent-heard-of\/\" title=\"Four Dangerous New Democrat Bills That You Probably Haven\u2019t Heard Of\">racial wealth gap<\/a>&#8221; at the National Action Network\u2019s 2024 convention. Recent data from the Federal Housing \u2063Finance Agency shows progress in narrowing\u200d the &#8220;appraisal gap,&#8221; aimed at reducing disparities in property valuations. However, higher appraisals could\u2062 lead to increased property taxes for\u200c homeowners. Biden aims to\u200c emphasize his administration&#8217;s efforts in promoting \u2062equity.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<div>\n<p>President <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/joe-biden\/\" target=\"_blank\" rel=\"noopener\" title>Joe Biden<\/a> plans to tout his progress on closing the \u201cracial wealth gap\u201d Friday in a speech at the Rev. Al Sharpton\u2019s National Action Network\u2019s 2024 convention.<\/p>\n<p>Biden is locked in a dead heat with former President <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/donald-trump\/\" target=\"_blank\" rel=\"noopener\" title>Donald Trump<\/a> ahead of the <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/2024-elections\/\" target=\"_blank\" rel=\"noopener\" title>2024<\/a> general election in November, and polling indicates that his popularity among black and Latino voters has slipped since entering office in 2021.<\/p>\n<p>In his Friday speech, delivered remotely, the president will specifically point to new data published by the Federal Housing Finance Agency that show the \u201cappraisal gap\u201d shrinking by more than 40% since 2021. White House officials say that homes in predominantly black and Latino neighborhoods were \u201cundervalued\u201d compared to majority-white neighborhoods and that closing or outright eliminating the appraisal gap would close the racial wealth gap by 16% when comparing black and white households and by 41% when comparing Latino and white households.<\/p>\n<p>The president had previously announced at the centennial commemoration of the Tulsa race massacre the creation of the Interagency Task Force on Property Appraisal and Valuation Equity, arguing that lower appraisals make it harder for affected families to build wealth.<\/p>\n<p>Nevertheless, higher appraisals will result in homeowners paying more in property taxes, as those taxes are calculated based on appraisals rather than the sale prices of properties.<\/p>\n<p>Biden is also expected to highlight how his administration reached its goal of increasing federal contracts with \u201cdisadvantaged\u201d businesses and continues to fight to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/the-debrief-with-conn-carroll-why-are-men-paying-for-womens-student-loan-debt\/\" title=\"Why do men pay women's student loan debt?\">eliminate student loan debt<\/a>, which the president says negatively affects minority borrowers more than white borrowers.<\/p>\n<p>Earlier in the day, the president unveiled an additional $7.4 billion in <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/democrats-push-for-student-debt-forgiveness-would-cost-taxpayers-millions\/\" title=\"Democrats push for student debt forgiveness, would cost taxpayers millions\">student loan forgiveness<\/a>, affecting nearly 300,000 borrowers. In total, Biden has forgiven more than $153 billion in <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/white-house-releases-list-of-president-trumps-accomplishments-and-it-is-historic\/\" title=\"White House Releases List of President Trump\u2019s Accomplishments \u2013  And It Is Historic!\">federal student loan debt<\/a> for more than 4 million borrowers.<\/p>\n<p>\u201cWhile the President and Vice President continue working to close the racial wealth gap and create more opportunities for all Americans, 80% of Congressional Republicans are supporting a plan that would move the country backwards,\u201d the White House added in a memo released ahead of Biden\u2019s speech. \u201cTheir plan would defund the President\u2019s executive orders on racial equity, while cutting Medicare, the Affordable Care Act, and Social Security \u2014 raising the Social Security retirement age in the process. Congressional Republicans would also roll back billions of dollars in investments and tax incentives that support small businesses as they shift to a clean economy.\u201d<\/p>\n<p><a href=\"https:\/\/www.washingtonexaminer.com\/\" target=\"_blank\" rel=\"noopener\" title><strong>CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER<\/strong><\/a><\/p>\n<p>The White House also said that the Republican plan\u00a0will \u201calso increase prescription drug, energy, and housing costs, while fighting for tax giveaways for the very rich and big corporations.\u201d<\/p>\n<p>You can watch Biden\u2019s remarks in full here.<\/p>\n<figure>\n<div>\n<p data-video_id=\"Crore8eOpZE\"><iframe loading=\"lazy\" title=\"President Biden Delivers Virtual Remarks at the National Action Network Convention\" width=\"696\" height=\"392\" src=\"https:\/\/www.youtube.com\/embed\/Crore8eOpZE?feature=oembed&#038;enablejsapi=1\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<\/p><\/div>\n<\/figure><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Joe Biden is set to showcase advancements in narrowing the &#8220;racial wealth gap&#8221; in a speech at the Rev. Al Sharpton\u2019s National Action Network\u2019s 2024 convention. With the 2024 general election approaching in November, Biden and former President Donald Trump are neck and neck in the polls, with indications of Biden&#8217;s sustained popularity<\/p>\n","protected":false},"author":2645,"featured_media":2219530,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/wex-s3.s3.us-east-1.amazonaws.com\/wp-content\/uploads\/2024\/04\/AP24102771826989-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-2219529","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/wex-s3.s3.us-east-1.amazonaws.com\/wp-content\/uploads\/2024\/04\/AP24102771826989-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2219529","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2645"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2219529"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2219529\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2219530"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2219529"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2219529"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2219529"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}