Joe Biden announced a plan on July 28th to spend tens of billions of dollars to help people of color overcome inequities in the economy if elected.
1. – The blueprint doesn’t endorse slavery reparations, but Biden has said he would support a congressional study on reparations.
2. – The plan calls for $30 billion worth of funds previously proposed for government investments to a small business opportunity fund for minority entrepreneurs.
3. – This plan represents the fourth and final part of Biden’s “Build Back Better” economic recovery plan. The remainder of the program includes; $700 billion on American products and research to jump-start the domestic economy, $2 trillion on the clean energy economy, and $775 billion on helping to care for young and old Americans through different initiatives.
4. – Biden is also proposing a refundable tax credit of up to $15,000 to help families purchase their first homes.
5. – Biden plans to reverse some of Trump’s tax cuts on corporations to finance “Build Back Better.”
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