This article is part of a guide to the Wall Street Journal comparing President Trump and former Vice President Joe Biden on issues ranging from climate change to healthcare and jobs.
Help to Small U.S. businesses still struggling in the midst of the coronavirus pandemic, it is certain that this will be a priority next year, regardless of who wins the presidency, and President Trump and Democratic candidate Joe Biden are both highlighting the issue while also highlighting the focus on different solutions.
Mr. Trump’s efforts would likely be based on political strategies that have been popular in his administration so far, including the paycheque protection program and tax breaks, and the recently released Platinum Plan for Black America.
Mr Biden’s Small Business Platform calls for PPP reform, including strengthening program oversight, creating a new investment fund, and expanding provisions for privately owned businesses. minorities.
Help against the coronavirus
The Trump administration pointed out the PPP, the coronavirus aid initiative which provided $ 525 billion in forgivable loans to small businesses, as a success. Republicans and Congressional Democrats worked with administration officials to restart the program, which expired in August. Mr. Trump signaled his support for reopening the PPP with $ 135 billion, roughly the same amount of unused funds when the program closed. Demand for PPP loans cooled as businesses grapple with challenges such as frequently changing guidelines.