What to Know in Washington: Harris Unveils Small Business Grants

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Vice President Kamala Harris will unveil the winners of $125 million in grants aimed at helping small business entrepreneurs in underserved communities access capital, with Bridgeway Capital receiving $2 million of the funds.

Harris will announce the 43 grant winners at an event in Washington today as part of the administration’s latest attempt to push its “Bidenomics” agenda ahead of the 2024 election. The grants stem from the Capital Readiness Program, which is funded by President Joe Biden’s American Rescue Plan.

Photographer: Sergio Flores/Bloomberg
Kamala Harris at a campaign event in Edinburg, Texas, on Oct. 30, 2020.

In addition to Bridgeway — whose grant will help at least 340 minority-owned and rural entrepreneurs in Pennsylvania, West Virginia, and Ohio — recipients include the Arizona Hispanic Chamber of Commerce Foundation in Phoenix; the Urban League of Greater Atlanta; and the Capital Region Minority Supplier Development Council in Silver Spring, Maryland, according to a White House fact sheet.

The Biden administration is aiming to sell skeptical voters on the president’s economic accomplishments. Biden has seen GDP growth, a strong jobs market, wage gains, and cooling inflation. However, polls show voters still disapprove of his handling of the economy, an issue critical to his reelection prospects. Biden faces additional economic and market headwinds after Fitch Ratings on Tuesday stripped the US of its top-tier credit rating, likely spurring a new round of fiscal fights. Hadriana Lowenkron previews today’s announcement.


  • The president travels from Rehoboth Beach to New Castle, Delaware this morning but has no public events scheduled.

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To contact the reporter on this story: Giuseppe Macri in Washington at gmacri@bgov.com

To contact the editor responsible for this story: Kayla Sharpe at ksharpe@bloombergindustry.com

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