Steyer rolls out $125B plan to invest in historically black colleges

Home / Steyer rolls out $125B plan to invest in historically black colleges

Democratic presidential candidate Tom SteyerTom SteyerBloomberg wages war on COVID-19, but will he abandon his war on coal? Overnight Energy: 600K clean energy jobs lost during pandemic, report finds | Democrats target diseases spread by wildlife | Energy Dept. to buy 1M barrels of oil Ocasio-Cortez, Schiff team up to boost youth voter turnout MORE rolled out his $125 billion plan to invest in historically black colleges and universities (HBCU) on Tuesday, marking the largest amount a 2020 Democratic presidential candidate has pledged to invest in the institutions. 

Steyer’s campaign said the funds would be distributed over a 10-year period, with $35 billion spent in the first year to deal with infrastructure needs. Ten billion would be spent every year after the first year. 

The plan calls for the creation of an HBCU Board of Regents, which would allow for independent decision making without putting federal dollars at risk. 


Steyer would also establish HBCU Centers for Innovation with the goal of training students in a number of fields including science and technology, business and health care. 

The billionaire is the latest White House contender to roll out his HBCU plan. Sen. Cory BookerCory Anthony BookerRand Paul introduces bill to end no-knock warrants Black lawmakers unveil bill to remove Confederate statues from Capitol Harris grapples with defund the police movement amid veep talk MORE (D-N.J.) announced last week his administration would devote $100 billion to invest in the schools. 

Sen. Bernie SandersBernie SandersThe Hill’s 12:30 Report: Milley apologizes for church photo-op Harris grapples with defund the police movement amid veep talk Biden courts younger voters — who have been a weakness MORE (I-Vt.) previously unveiled his $10 billion plan at a campaign rally at Morehouse College, while Sen. Elizabeth WarrenElizabeth WarrenWarren, Democrats urge Trump to back down from veto threat over changing Confederate-named bases OVERNIGHT DEFENSE: Joint Chiefs chairman says he regrets participating in Trump photo-op | GOP senators back Joint Chiefs chairman who voiced regret over Trump photo-op | Senate panel approves 0B defense policy bill Trump on collision course with Congress over bases with Confederate names MORE (D-Mass.) has proposed investing $50 billion in HBCUs. 

Steyer’s announcement comes as he struggles to break into the campaign’s top tier. The billionaire was the seventh candidate to qualify for the sixth primary debate. 

He called on the Democratic National Committee to “open up” its debate requirements this week to allow for a more diverse field. 

“Democrats need to engage voters from every part of the country, and that means making sure voters hear from a diverse group of candidates before they select our nominee,” Steyer said in a statement. 


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