Biden to Award Minority Owned Businesses 50% More Contracts

President Joe Biden plans Tuesday to propose new rules that will award minority-owned businesses 50 percent more contracts, ignoring a fair bidding process to lessen the “racial wealth gap.”

“Under the Biden proposal, the administration would aim to increase the amount of federal contracting dollars given to small disadvantaged business by 50 percent over five years, amounting to an additional $100 billion in funding for those businesses,” the Hill reported.

The report also mentions nearly 10 percent of “federal agencies’ contracting money typically goes to small, disadvantaged businesses in a typical year.” Small, “disadvantaged” businesses includes minority-owned businesses.

The federal government picking winners and losers, based on “disadvantaged” status, the administration says, will “strongly impact lessening the racial wealth gap.”