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Former Vice President Joe Biden is slated to reveal on Tuesday an economic equity plan that seeks to address racial inequity in the United States.
The initiative is the fourth pillar in a sweeping economic agenda laid out in recent weeks by Biden, the presumptive Democratic nominee. Biden earlier this month unveiled his "Build Back Better" plan meant to combat the financial distress caused by the coronavirus pandemic.
The rollout comes two months after the police killing of George Floyd, who died in Minneapolis on Memorial Day when a now-former officer knelt on his neck for more than eight minutes. Demonstrators have been protesting Floyd's death and racial injustice since then.
The economic equity plan includes a $30 billion fund aimed at small businesses in minority communities, among other proposals.
Other parts of Biden's "Build Back Better" plan call for an increase in funding to struggling childcare centers and an expansion of care giving services. Biden announced last week that state, local and tribal governments would receive emergency funding to maintain these centers and support home care workers as the pandemic rages on.
The coronavirus outbreak has spread worldwide, with more than 16.4 million confirmed cases and over 654,300 deaths, according to data from Johns Hopkins University. The U.S. has had more than 4.2 million cases and at least 148,000 deaths, according to the latest tallies, more than any other country.