Joe Biden, the presumptive Democratic nominee, has rolled-out his “Build Back Better” economic plan to combat racial disparities in the nation’s economy on July 28.

The proposal focuses on diffusing the economic imbalance within Black, Latinx, and POC business owners who have dealt with the longstanding economic equality and it's magnified effects brought on by the coronavirus pandemic.

“To support more Black and Brown small businesses, my administration will launch a new Small Business Opportunity Initiative. We’re going to make sure that those with the best ideas are not denied the venture capital or financing they need because of their race or zip code,” Biden tweeted. 
 

“Small business ownership is one of our country’s cornerstones for wealth building and job creation. But Black and Brown entrepreneurs face far too many barriers to ownership, growth, and success,” Biden tweeted on the day of his plan’s unveiling.

“I’ve got a plan to change that,” he continued.
 

The plan outlines a dedication of $30 billion of previously proposed spending on a small-business opportunity fund for Black, Latinx, and Native American business owners.

“In good times, communities of color still lag,” Biden said in a speech Tuesday, introducing his plan. “In bad times, they get hit first, and the hardest. And in recovery, they take the longest to bounce back. This is about justice.”

The economic crisis brought by COVID-19 has only intensified disparities already felt by Black and Latinx communities, and especially Black and Latinx women.

In his plan, Biden promises to increase funding for community-based and proven organizations that help women and people of color access high-quality training and job opportunities. Biden has also pledged to have a woman as his running mate.

With Black unemployment at 15.4%, Latinx unemployment at 14.5% and businesses owned by Black, Latinx and Asian Americans closing at alarming rates, Biden’s racial economic equity plan wants to lessen the gaps.

“We are also seeing  national reckoning on racial justice and the tragic homan costs of systemic racism in the murder of George Floyd and so many other Black men, women and children,” Biden’s “Build Better Back” agenda states.

These are encouraging steps, showing the Biden campaign and possible Biden presidency considers these real struggles in its proposed legislation, but the real test will be seeing it through.