PoliticsStacy M. Brown

Republicans Fight Against Coronavirus Aid for Black Businesses

House Speaker Nancy Pelosi (D-Calif.) said she wants stipulations in a new small business stimulus package that would focus on businesses owned by women, veterans and minorities.

During an NAACP and BET event, “Unmasked: A COVID-19 Virtual Town Hall Series,” Pelosi said minority-owned and -operated financial institutions that process small business loans must be included.

“We also really need to make sure that all the banks that can participate are able to do so because we’re finding out that if people don’t already have a relationship with banks, they’re being turned away,” she said. “This must not only include banks with a big reputation, but community banks, minority-owned banks, and the rest.”

The most recent $2.3 trillion coronavirus stimulus package included $350 billion to assist the nation’s small-business owners. However, Pelosi and her Democratic colleagues have discovered the process is still leaving out African Americans.

“As the world faces unprecedented times and new realities during this global pandemic, the health and safety of people around the planet, particularly African Americans, are at an unparalleled risk,” said NAACP President and CEO Derrick Johnson. “The occasion to uplift and educate our community during this pivotal moment charts a pathway forward through uncertain times.”

Republicans have presented a plan that calls for $500 billion in additional funding for small businesses and corporations. However, Democrats want Black-owned businesses and other minority firms to receive at billions more to assist them during the crisis.

Republican Senate leader Mitch McConnell so far has balked at the proposal.

Pelosi said Democrats aren’t signing off on legislation that would neglect Black-owned businesses. The party wants an interim measure to include $100 billion for hospitals and health systems for rapid coronavirus testing and personal protective equipment, $150 billion for state and local governments, and a 15 percent increase in the maximum food stamp benefit for families.

Democrats also want $125 billion to be specifically for farmers, women, minority, family and veteran-owned businesses and nonprofits and are calling for improvements to ensure banks do not reject small businesses seeking loans.

“The heartbreaking acceleration of the coronavirus crisis demands bold, urgent, and ongoing action from Congress to protect Americans’ lives and livelihoods,” Pelosi and Senate Minority Leader Chuck Schumer (D-N.Y.) said in a statement. “As Democrats have said since day one, Congress must provide additional relief for small businesses and families, building on the strong down-payment made in the bipartisan CARES Act.”

In an editorial in the New York Times, “Race Related: COVID-19 and the Collapse of America’s Welfare State,” Eduardo Porter wrote that people of color were denied access to many of the benefits provided by Franklin D. Roosevelt’s New Deal.

“If they had been given access, Southern Democrats wouldn’t have voted for it,” Porter wrote. “When Lyndon B. Johnson opened America’s welfare state to African Americans and other minorities 30 years later, the political consensus that had set America down the path of social democracy soon collapsed.

“If the safety net had to be shared with people of color, many white Americans decided they would rather not have one at all,” he opined.

Tags
Show More

Stacy M. Brown

I’ve worked for the Daily News of Los Angeles, the L.A. Times, Gannet and the Times-Tribune and have contributed to the Pocono Record, the New York Post and the New York Times. Television news opportunities have included: NBC, MSNBC, Scarborough Country, the Abrams Report, Today, Good Morning America, NBC Nightly News, Imus in the Morning and Anderson Cooper 360. Radio programs like the Wendy Williams Experience, Tom Joyner Morning Show and the Howard Stern Show have also provided me the chance to share my views.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *


By submitting this form, you are consenting to receive marketing emails from: Washington Informer Newspaper, 3117 Martin Luther King Jr. Ave SE, Washington, DC, 20032, http://www.washingtoninformer.com. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Back to top button

My News Matters to me - Washington Informer Donations

Be a Part of The Washington Informer Legacy

A donation of your choice empowers our journalists to continue the work to better inform, educate and empower you through technology and resources that you use.

Click Here Today to Support Black Press and be a part of the Legacy!

Subscribe today for free and be the first to have news and information delivered directly to your inbox.


By submitting this form, you are consenting to receive marketing emails from: Washington Informer Newspaper, 3117 Martin Luther King Jr. Ave SE, Washington, DC, 20032, http://www.washingtoninformer.com. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact
Close

Adblock Detected

Please consider supporting us by disabling your ad blocker