Tags Aaron Glantz
Tag: Aaron Glantz
Since President Barack Obama signed his stimulus package into law in February, the U.S. Department of Transportation has handed out more than $150 million in contracts to companies for street, highway and bridge construction. New statistics released by the Transportation Equity Network (TEN) show that from that pot of money not a single dollar had been allocated to any African-American owned business.
Loans handed out to struggling small businesses as part of President Barack Obama’s stimulus package have largely shut out minority businesses – especially those owned by Blacks and Latinos. Overall, white-owned businesses received over $130 million in loans through the program, while Hispanic-owned businesses got $4 million and Black-owned businesses less than $2 million.