What Biden’s administration could mean for small businesses in the RGV

Local News

Harlingen, Texas (KVEO)—President Joe Biden has promised to address the economic impact the COVID-19 pandemic has had on small businesses.

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Biden proposed several executive orders that he said are aimed to protect the population from COVID-19.

“The restart package”, which has not been signed by the President, is three points and it includes Personal Protective Equipment for small businesses, ensure worker protection and expand access to $100 billion in low-interest business loans.

Biden’s plan is consistent with key elements in the Jobs and Neighborhood Investment Act recently proposed by Democratic Senators Chuck Schumer, Mark Warner, Cory Booker, and Vice President Kamala Harris.

Texas Senator Eddie Lucio Jr. weighs in about the plan and explained how it can help minority communities.

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“Any plan that’s so large in scope is going to be difficult to administer obviously we’re talking something nationwide now with that said I believe the income in administration will bring with it the policy experts who will be able to implement this aid program,” said Senator Lucio.

Overall, Biden will leverage more that $150 billion in new capital and opportunities for small businesses that have been structurally excluded for generations. 

To read restart package, click here.

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