Overview

• 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.