Rep. Joyce Beatty: Biden administration key in supporting Black-owned businesses

Chair of the Congressional Black Caucus Rep. Joyce Beatty (D-Ohio) said at an Axios event Tuesday that the Biden administration has been key to helping Black-owned small businesses through the pandemic.

Why it matters: The COVID-19 pandemic has exacerbated economic inequities minority workers and business owners already faced, widening racial disparities, Axios' Hope King writes.

What she's saying: "95% of the Biden approved PPP loans went to small businesses with 20 or less employees. And that was very helpful," Beatty said.

• "We know that Biden's committed to a 50% increase in contracting with small, disadvantaged, targeted businesses. So that's going to be helpful."
• "When you look at the data that's out there, it will tell me the disparities. It will tell you how much work we have to do," Beatty said.
• "While we're making great strides with the billions of dollars that we have set aside through the work that the Biden-Harris administration has done with the work that we've done in Congress, I can tell you my caucus has been in the forefront fighting for the people and fighting for businesses, especially small businesses, to stay open."

Watch the full event here.