Biden unveiled plans to tackle racial economic inequality

Former Vice President Joe Biden announced a series of policies on Tuesday that aim to address large-scale racial economic disparities in the country.

In his plan, Democratic Democratic presidential candidates are pushing for increased funding for low-income housing, increased capital for minority-owned small businesses, and greater infrastructure spending directed toward black communities. Huh.

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Biden will formally unveil his plan on Tuesday afternoon during a speech in his hometown of Dalling.

“To address the racial wealth gap, opportunity gaps, and the jobs gap for Black and Brown people, Biden will embark on a historic effort to empower small businesses and expand into economically disadvantaged areas,” a Biden is further released in the campaign document. Address of former Vice President

The plan is the fourth in a series of policy rollouts titled “Build Back Better”, which Beaden has given last month to revamp his national agenda to build his agenda that flattened earlier this year because The coronovirus epidemic had swept the country. The policy rollouts come ahead of next month’s Democratic National Convention, when Biden will be formally designated as his party’s standard.

“Black and Latino people have been three times more likely to be infected – and twice as likely to die from the virus as white people,” Biden would say in his speech, according to excerpts released by his campaign.

“About 18 million people are out of work. Black unemployment is at 15%, Latina employment is at 14.5%. More than 40% of black-owned businesses – a total of 440,000 – reportedly had to close,” Biden would stress.

The former vice president’s economic rollout also comes amid two months of national unrest and protests – over the country’s history of police brutality and systemic racism toward minorities – which erupted in the death of George Floyd in May, while a black The person who died was in police custody.

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Biden aides told reporters that the former vice president’s latest plan does not include a proposal to spend any new ones – rather specifying how the money from his previous plans should be targeted in minority communities, businesses and homes. And the campaign said the latest proposals are the last issue of Biden’s economic plans.

Biden’s first plan focused on boosting American manufacturing with buy-in proposals that would compete with President Trump’s “America First” platform that helped him win the White House four years ago. Other economic legs of Biden’s plans include combating climate change with changes in the carbon-free energy sector, repairing the nation’s infrastructure and struggling to care for its children and elderly parents due to the stress of coronovirus Helping families is included.

The proposals, revealed on Tuesday, would lead to new equity investment and more than $ 50 billion in venture capital for entrepreneurs in economically deprived areas.

“Black and brown entrepreneurs face unique barriers to obtaining the capital they need to start and grow a business. For example, three-quarters of venture capital goes to just four cities – and very little flow to businesses owned by Black and Brown people, ”said the Biden campaign.

The campaign also reported that Biden would aim to leverage $ 100 billion in additional financing for small minority-owned businesses, upgrade infrastructure and job opportunities in Black and Brown communities, and the Federal Reserve to reduce racial Would urge him to play a bigger role. Income inequality.

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Aide said that if elected, Biden would propose a bill that would broaden the central bank’s current mandate to curb inflation and allow the Fed to use its powers “racially” to maintain full employment Economic gaps “.

Biden is also calling for a second chance for economic success to people convicted of a crime so that they can re-establish themselves in society by living a good life. The campaign says Biden will do so by “helping states modernize their criminal justice data infrastructure and adopt automated record sealing for selected categories of nonviolent crimes to modernize their criminal justice data infrastructure.”

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