Biden Administration reviewing the American Jobs Plan Act

Stephanie Lisette Soto

President Biden’s plan speaks to black and latino business groups:

How will the plan help?
Direct support to small businesses by increasing access to federal contracts and investing more than $110 billion in financing and technical assistance programs.

Increase federal contracting opportunities for small businesses. From fixing highways and rebuilding bridges to upgrading Veterans Affairs medical centers and rehabilitating other federal buildings, the President’s plan will mobilize small contractors to meet the great challenges of our time.
Launch a historic effort to empower small business creation and expansion in underserved communities. The American Jobs Plan will create a national network of small business incubators and innovation hubs to ensure all Americans have a fair shot at starting and growing their own business.
Encourage small businesses – especially underserved small businesses – to fully engage in the innovation economy. President Biden is calling on Congress to invest $5 billion in federal programs that empower small firms to participate in federal research and development initiatives that have the potential for commercialization.
Help minority-owned manufacturing businesses access capital. The American Jobs Plan will create a new grant program through the Minority Business Development Agency that will help small, Brown- and Black-owned manufacturers access private capital.
Create a new financing facility for small manufacturers. President Biden is calling on Congress to seed a new financing program to co-invest with private capital in the industrial base.
Increase access to billions of dollars of lending and investment capital. The American Jobs Plan will enable small businesses to drive the recovery by investing $15 billion in the Small Business Administration’s 7(a) loan program and $5 billion in the Small Business Investment Company program.
Strengthen manufacturing supply chains and innovation ecosystems. President Biden is also calling on Congress to bolster the Manufacturing Extension Partnership and Manufacturing USA; create a new office to monitor industrial capacity and support the production of critical goods; and establish regional hubs to fuel technology development and create new businesses around the country.


Biden Administration reviewing the American Jobs Plan Act Stephanie Lisette Soto President Biden’s plan speaks to black and latino business groups: How will the plan help? Direct support to small businesses by increasing access to federal contracts and investing more than $110 billion in financing and technical assistance programs. Increase federal contracting opportunities for small businesses. From fixing highways and rebuilding bridges to upgrading Veterans Affairs medical centers and rehabilitating other federal buildings, the President’s plan will mobilize small contractors to meet the great challenges of our time. Launch a historic effort to empower small business creation and expansion in underserved communities. The American Jobs Plan will create a national network of small business incubators and innovation hubs to ensure all Americans have a fair shot at starting and growing their own business. Encourage small businesses – especially underserved small businesses – to fully engage in the innovation economy. President Biden is calling on Congress to invest $5 billion in federal programs that empower small firms to participate in federal research and development initiatives that have the potential for commercialization. Help minority-owned manufacturing businesses access capital. The American Jobs Plan will create a new grant program through the Minority Business Development Agency that will help small, Brown- and Black-owned manufacturers access private capital. Create a new financing facility for small manufacturers. President Biden is calling on Congress to seed a new financing program to co-invest with private capital in the industrial base. Increase access to billions of dollars of lending and investment capital. The American Jobs Plan will enable small businesses to drive the recovery by investing $15 billion in the Small Business Administration’s 7(a) loan program and $5 billion in the Small Business Investment Company program. Strengthen manufacturing supply chains and innovation ecosystems. President Biden is also calling on Congress to bolster the Manufacturing Extension Partnership and Manufacturing USA; create a new office to monitor industrial capacity and support the production of critical goods; and establish regional hubs to fuel technology development and create new businesses around the country.
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