Trump makes inroads as Harris proposes 1 million forgivable loans to Black entrepreneurs.
- She commits to advocating for federal marijuana legalization, a significant departure from the Biden administration's current stance.
On Monday, Vice President Kamala Harris presented an "Opportunity Agenda" proposal for Black men, which includes initiatives to offer 1 million forgivable loans to Black entrepreneurs and create new avenues for Black Americans to excel in the legalized marijuana sector.
"Former Rep. Cedric Richmond, a Harris campaign co-chair, stated that this agenda represents Vice President Harris' vision of an Opportunity Economy, which aims to empower Black men with the resources to achieve financial stability and success, including owning a home, supporting their families, launching businesses, and accumulating wealth."
Harris aims to boost her backing among Black male voters with her announcement, which is made in the last weeks of a tight race between her and former President Trump.
The campaign announced that on Monday, a plan was outlined which would offer 1 million fully forgivable loans of up to $20,000 to Black entrepreneurs and others to start a business. These loans would be financed through partnerships between "mission-driven lenders," community-oriented banks, and the Small Business Administration.
The PSLF program offers loan forgiveness to borrowers who work in specific non-profit and government jobs after 10 years. Despite making up less than 2% of public school teachers in the U.S., black men were found to be underrepresented in the National Teacher and Principal Survey for the 2020-21 school year.
If Harris wins in November, she will become the first Black woman and the first South Asian person to be elected president of the United States.
Harris pledged to back federal-level marijuana legalization, a significant move beyond the Biden administration's current stance on cannabis, which involves pardoning those convicted of marijuana possession and examining the possibility of reclassifying marijuana on the drug schedule.
The campaign stated that she will also fight to ensure that Black men, who have been over policed for marijuana use for years, are able to access wealth and jobs in the new national cannabis industry as it takes shape.
Harris' new plan includes a section on digital assets, indicating a potential departure from the Biden administration's stance on this issue.
Harris' campaign claims that more than 20% of Black Americans own or have owned cryptocurrency assets, and her plans will ensure that owners and investors in digital assets are protected by a regulatory framework.
In Washington, a battle over cryptocurrency regulation is intensifying, although it was unclear what the framework would entail on Monday.
Despite polls indicating that Black voters largely support Harris over Trump, recent data shows that Biden has gained a larger share of key Democratic voters three weeks before the election, according to a New York Times/Siena College poll.
In late September and early October, pollsters found that about 15% of Black likely voters planned to vote for Trump in November, which is six percentage points higher than Biden's final margin with Black voters in the 2020 race. This data helps quantify the ground that Harris hopes to make up in the coming weeks.
Harris aims to distinguish herself from Trump through her new proposals for Black men.
The vice president frequently links the former president to the Project 2025 agenda, a set of strict policy proposals created by The Heritage Foundation in collaboration with over 100 other conservative organizations.
Trump has attempted to separate himself from Project 2025, which advocates for reducing funding for educational and safety net programs, including Medicaid and the Affordable Care Act.
Politics
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