Federal Plan to Tackle the Racial Wealth Gap Includes a Procurement Focus (.PDF Download)

July 7, 2021

The Biden-Harris Administration has released an ambitious plan focused on narrowing the racial wealth gap in the U.S. and reinvesting in communities. The plan is focused on expanding access to two wealth-creators—homeownership and small business ownership—in communities of color and disadvantaged communities.

Procurement will play a part in helping the administration achieve its goals. For example, the administration wants to leverage the federal government’s purchasing power to grow federal contracting with small disadvantaged businesses by 50%, according to a White House Fact Sheet.

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