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

Steyer rolls out $125B plan to invest in historically black colleges
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Democratic presidential candidate Tom SteyerTom SteyerTV ads favored Biden 2-1 in past month Inslee calls Biden climate plan 'perfect for the moment' OVERNIGHT ENERGY: Trump administration finalizes plan to open up Alaska wildlife refuge to drilling | California finalizes fuel efficiency deal with five automakers, undercutting Trump | Democrats use vulnerable GOP senators to get rare win on environment 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 BookerDHS opens probe into allegations at Georgia ICE facility Democratic lawmakers call for an investigation into allegations of medical neglect at Georgia ICE facility Black Voters Matter Fund deploying voter outreach caravans in 12 states to drive turnout MORE (D-N.J.) announced last week his administration would devote $100 billion to invest in the schools. 

Sen. Bernie SandersBernie SandersMcConnell accuses Democrats of sowing division by 'downplaying progress' on election security The Hill's Campaign Report: Arizona shifts towards Biden | Biden prepares for drive-in town hall | New Biden ad targets Latino voters Why Democrats must confront extreme left wing incitement to violence MORE (I-Vt.) previously unveiled his $10 billion plan at a campaign rally at Morehouse College, while Sen. Elizabeth WarrenElizabeth WarrenWarren, Schumer introduce plan for next president to cancel ,000 in student debt The Hill's 12:30 Report - Presented by Facebook - Don't expect a government check anytime soon No new taxes for the ultra rich — fix bad tax policy instead 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.