U.S. Democratic presidential candidate Joe Biden on Tuesday will detail a proposal to battle racial economic inequality, including improving access to capital for minority-owned businesses, increasing investment in disadvantaged communities and making housing more affordable.
FILE PHOTO: Democratic U.S. presidential candidate and former Vice President Joe Biden speaks during a campaign event in Wilmington, Delaware, U.S., July 14, 2020. REUTERS/Leah Millis/File Photo
Biden’s plans to date have included investing trillions of dollars in manufacturing and innovation, clean energy and childcare. Republican critics have said the plans will lead to higher taxes. In total, the plan would lead to $50 billion in public-private venture capital and another $100 billion in low-interest business loans for mostly minority-owned businesses, officials said.
Months of protests following the police killing of George Floyd, a Black man in Minnesota, have thrust the issue of race to the forefront of the campaign. Biden last week called Trump the first racist to become U.S. president, a statement Trump’s re-election campaign quickly denounced.
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