Joe Biden to Award Minority Owned Businesses 50 Percent More Contracts

WASHINGTON, DC - MAY 13: U.S. President Joe Biden delivers remarks on the COVID-19 respons
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President Joe Biden plans Tuesday to propose new rules that will award minority-owned businesses 50 percent more contracts, ignoring a fair bidding process to lessen the “racial wealth gap.”

“Under the Biden proposal, the administration would aim to increase the amount of federal contracting dollars given to small disadvantaged business by 50 percent over five years, amounting to an additional $100 billion in funding for those businesses,” the Hill reported.

The report also mentions nearly 10 percent of “federal agencies’ contracting money typically goes to small, disadvantaged businesses in a typical year.” Small, “disadvantaged” businesses includes minority-owned businesses.

The federal government picking winners and losers, based on “disadvantaged” status, the administration says, will “strongly impact lessening the racial wealth gap.”

The specific selection of certain businesses will reportedly extend federal purchasing power to those chosen businesses, giving them a competitive edge with businesses which are not minority owned or “disadvantaged.”

Biden will announce the proposal Tulsa, Oklahoma, to acknowledge the 100th anniversary of the Black Wall Street Massacre.


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