Wednesday, June 10, 2020

Nailed It

Understands the problem, and has a plan to solve it.
Undo systemic economic racism
For too long, black Americans have lived with a knee on their neck — not only institutional violence, but daily injustices like having the police called for sitting in a coffee shop or watching birds in the park. I support the proposal pending in New York to enhance penalties for making a false 911 call based on race, gender or religion. No one should be subjected to that kind of discrimination, ever.

We should also be directing our resources to actively undo the negative effect systemic racism has had on opportunities for black Americans. For example, African American entrepreneurs are rejected for loans at a rate nearly 20% higher than white entrepreneurs, and when they do receive funding, it's far less. So we should prioritize support for mission-driven lenders in low-income communities by doubling the State Small Business Credit Initiative. We should expand the New Markets Tax Credit to funnel billions in investments into communities that need it. And, the Small Business Administration should expand its programs that are most effective at helping launch black-owned businesses.