While I agree that more must be done so that good basic education is available to everyone, you do realize that this aims at schools? Grants go to researchers at universities. A part of the change is that you need to explain how your university actually tries to recruit an appropriate share of underrepresented groups. If your school doesn't, the researchers will pressure the school until it does, because they want grants.
For example, I just prepared a grant application, and doing so I realized that the web pages for the offices that deal with DEI are terribly outdated. I will certainly raise that topic with the administration here.
We throw a ton of money into the public school system, but the results are less than ideal. It is a system that has not changed much over time.