Biden spoke Jan. 8 about prioritizing access to reopening resources for minority business owners, including African-Americans.
As a result of the Communist China virus (coronavirus) pandemic, President-elect Joe Biden said Jan. 8 that his administration plans to give priority to minorities in terms of equal access to the resources needed to reopen and rebuild businesses. The plan has generated buzz on social media.
In a preview of spending priorities to address the Communist Party’s viral pandemic, Biden said Jan. 8 that the small business stimulus plan would prioritize “African-American, Hispanic, Asian, Native American-owned small businesses, and women-owned businesses” so that they would eventually have equal access to the resources needed to reopen and rebuild their businesses.
Biden added that his administration will focus on making a “real effort” to help communities that “face systemic barriers to relief.
Many small businesses have been hit by the communist virus outbreak. Today, more than a quarter of small businesses are not operating,” Biden said. At least 400,000 have closed for good. Over time, one-third of African-American-owned businesses and more than one-fifth of Latino-owned businesses, and more than one-fourth of Native American-owned businesses, have less than a month’s worth of reserves to cover expenses.”
Biden argued that in previous relief, small businesses owned by African-Americans and brown people had little chance of receiving relief.
The Trump administration set aside $10 billion in additional Paycheck Guarantee Program (PPP) funds in May 2020 to ensure that small business owners in all communities have access to the funds they need to, in turn, keep American workers employed.
Biden’s Plan Draws Heated Debate
Biden’s latest statement prioritizing minority business owners, such as African-Americans, has been widely criticized on social media, with many believing the move will exacerbate divisions across the country.
Jon Gabriel, editor-in-chief of the conservative news outlet Ricochet, doesn’t understand why Biden doesn’t treat all Americans equally, regardless of color. He said, “Can we just say help Americans without further dividing us into competing subgroups?”
Steve Cortes, a campaign adviser to President Trump, also accused Biden of “blatant bias.”
Ana Rosa Quintana, a Latin American policy analyst at the Heritage Foundation, said, “The color of my skin doesn’t make me more important than my fellow white Americans. Please treat us all as a priority.”
“As a person of African-American and Hispanic heritage who would directly benefit from this, Biden’s racist and sexist standards disgust me,” wrote Luke Negron (R), a Pennsylvania congressional candidate running in the 2020 election. “This level of racism and sexism is impeachable if executed as president.”
Biden is set to unveil an epidemic relief plan this week that could cost taxpayers trillions of dollars. The plan would include direct payments of $2,000 checks to the American people and support for small businesses.
Biden’s trillion-dollar bailout plan may face challenges
Biden also said “it’s time to raise the minimum wage to $15,” but he did not explain how the move would help small businesses that are already struggling to pay their employees. The Congressional Budget Office estimated in July 2019 that raising the federal minimum wage to $15 would result in the loss of 1.3 million jobs across the United States. Biden’s transition team did not respond to requests for comment.
Republicans, along with some Democrats, will likely oppose greater deficit stimulus spending. Reuters notes that Joe Manchin, a Democratic U.S. senator from West Virginia, for example, was initially skeptical of the plan.
Before the 2020 presidential election, a report by the Committee for a Responsible Federal Budget (CRFB), a nonprofit, neutral public policy organization, noted that Trump and Biden, in their political views There is a stark contrast in the costs of Trump’s and Biden’s economic plans to deal with the epidemic. By and large, Biden’s plan costs nearly six times more than Trump’s.
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