Biden promises large taxpayer investments to aid minority communities

by Peter Heck · Jul 29th, 2020 9:58 am

Last Updated Aug 2nd, 2020 at 5:01 pm

Promising that it would "deal with systemic racism and advance racial equity in our economy," presumptive Democratic presidential nominee Joe Biden announced a plan designed to increase the economic status of blacks, Native Americans, and other ethnic minorities in the United States.

"We need to make bold, practical investments to recover from the economic mess we're in and to rebuild for the economic future our country deserves," Biden said.

Included in his plan is a proposal to create a $15,000 tax credit for minority families purchasing their first home, as well as assigning $30 billion to a small business opportunity fund for black and Native American entrepreneurs.

The plan was designed as a response to activist critics who have attacked Biden during the campaign for having a questionable record on racial issues. The former vice president offered proposals on a variety of topics, including business startups, retirement, affordable housing, and education.

Despite the speech being centered around economic policy, Biden took time to hit the Trump administration for what he claimed were intentionally divisive responses to recent social unrest, claiming the president "is intentionally stoking the flames of division and racism in this country."


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