President Joe Biden said he was committed to closing the racial wealth gap at a campaign fundraiser hosted by prominent Black business leaders in New York on Monday, seeking to highlight the economic gains for Americans under his administration.

“Black Americans play a critical role in the economy, and disparities exist in every dimension in Black economic life, including representation, participation and pay. I’m committed to addressing these disparities,” Biden said Monday at an event at the St. Regis hotel in Midtown Manhattan.

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Biden has credited Black voters with helping him win the White House in 2020, with exit polls showing he carried 87% of the vote. Yet that support has eroded in recent polls. Civil rights groups have expressed frustration with the administration’s progress on efforts such as voting rights, police reform, gun violence and student loan debt.

{snip} Biden said last year his administration had awarded $70 billion in federal contracts to disadvantaged businesses.

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