Biden Highlights Growth of Black Business Ownership and Federal Investments in Milwaukee Visit

Despite Economic Gains, Americans Remain Pessimistic About Their Economic Future

President Biden is visiting Milwaukee to highlight the growth of Black business ownership and federal investments in Black-owned plumbing firms to remove lead pipes.
Black business ownership is growing at the fastest pace in 30 years, and Biden will announce new investments to support underserved communities.
Despite positive economic signs, Americans remain pessimistic about their economic future as wages are not keeping pace with the high cost of living.
Biden's visit is also seen as a political move to sway voters who are still on the fence due to his age and lingering concerns about the economy.
The administration awarded $70 billion in federal contracts to small, disadvantaged businesses in 2022, and $12 billion to community lenders to improve access to capital resources for Black firms.