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More Than Juneteenth? What’s In Trump’s $500 Billion “Platinum Plan” For Black America

FREE Cape Cod News by FREE Cape Cod News
September 27, 2020
in Business, U.S.
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On Friday, President Trump unrolled what he refers to as a “platinum plan” for Black America, calling for increased investment in Black businesses and additional capital for Black entrepreneurs. The President also announced support for Juneteenth to be recognized as a national holiday.

But is Trump’s plan to little and too late to convince Black voters to support him?

The President’s speech at the “Black Voices for Trump” rally in Atlanta comes as part of a late push to gain more traction with Black voters. It was also notable for the location where he made it. Georgia, which has historically been a solid Republican state in presidential elections, is an unexpected battleground in 2020, with some polls showing the contest too close to call. Atlanta is also the city where Trump announced “Black Voices for Trump” last fall.

Trump’s proposed plan, which purports to be built on four pillars of “opportunity, security, prosperity and fairness,” calls for a range of measures in support of the Black businesses and families. Included in the plan is a call for almost $500 billion of capital investment in the Black community, with much of it coming from increased federal contracting opportunities and other investments. He also called for 500,000 new Black businesses and 3 million jobs for Black Americans.

Juneteenth Boston

A stylized American Black Lives Matter flag flies during a Juneteenth rally, Friday, June 19, 2020, … [+] in Boston. On Friday, in Atlanta, President announced his support for making Juneteenth a national holiday as part of his platinum plan for Black America. (AP Photo/Michael Dwyer)

ASSOCIATED PRESS

Trump’s plan also calls to increase the number of Black-owned contracting businesses, financial services entities, and private equity investment funds by means of regulatory reform and up to$40 billion in government funding, as well as leveraging infrastructure funding to increases opportunity for Black businesses in federal contracting. Trump’s propsal also references vague commitments for increases in Black employment and home ownership, offering very little details on both.

In addition to the economic aspects of the plan, the President’s plan proposes a range of other commitments to the Black community, including criminal justice reforms that include diversity training for police forces. In addition, the President is promising a National Clemency Program to unite families and invest in human potential, focusing on wrongful prosecution and rehabilitation.

Notably, Trump also announced in Atlanta that he supports making Juneteenth a national holiday, something that has been teased for several days now.

The plan also proposes prosecuting KKK and ANTIFA as terrorist organizations. Notably, the President’s plan doesn’t mention far-right and white nationalist organizations, which federal law officials have identified as key proponents of race-based hate in America.

The announcement of the so-called “platinum plan” comes after the President tried to use a variety of tactics to woo Black voters. He has used executive orders, pardons, and over-the top rhetoric in which he has compared himself to Abraham Lincoln to attract the attention of skeptical Black voters. There were also several Black speakers during the Republican National Convention who tried to make the case for why Trump is better than Black America than Biden.

Yet Trump’s struggles with the Black community are well known. He received just 8% of the Black vote in the 2016 election, and a poll this week by Quinnipiac University found that only 10% of Black voters planned to support Trump in November.  A  January poll by The Washington Post found that approximately 83% of Black Americans believe that President Trump is racist and have helped fan racial tensions.

That poll, taken before this summer’s widespread protests over police racial justice, showed the strong headwinds the President already faced in convincing Black voters to support him. No doubt this summer’s protests, and even the most recent outcry over a Kentucky grand jury’s decision related to the death of Breonna Taylor, have further added to his challenges.

But by rolling out his platinum plan for Black America, at the very least critics can’t say that the President tried to use the federal pocketbook to try and convince the Black voters to support him. While it is doubtful it will work…

At least it’s better than no plan at all.

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Tags: Americabusinesseconomy

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