Kamala Harris announces what amounts to a stealth reparations plan: $1.7 billion in "loans" that don't have to be repaid.

American Thinker ^ | 04/12/2023 | Thomas Lifson

[SeekAndFind]

In a little-noted speech last week, VP Kamala Harris revealed that the federal government will be giving out gifts amounting to $1.7 billion dollars to “minority” businesses. This amounts to a stealth reparations plan, as the recipients likely will be predominantly Black. The Hill reports:

Vice President Harris on Monday announced $1.7 billion in grants for more than 600 community lenders to support small businesses, entrepreneurs, nonprofits, housing and commercial real estate as they seek to rebound from the coronavirus pandemic.

Harris announced the grants as part of the Treasury Department’s Community Development Financial Institutions Fund, saying that the loans will go to support local lending institutions that primarily serve minority communities, which may be hesitant to seek out a loan from a bigger bank. She said that the lenders will not need to pay back “not even a dollar of this investment,” and noting that the awards are grants, not loans.

“These banks predominantly do business in overlooked and underserved communities,” she said. “They know these communities. They understand these communities. And in particular, most importantly, they know and see the capacity of these communities.”

YouTube screengrab (cropped)

It is unclear where the money will come from, though there is still cash from Covid appropriations and the massive spending bills available.

Disguising the gifts, targeted on the basis of race, as loans that don’t have to be repaid is particularly obnoxious. What kind of lesson is it for budding entrepreneurs that you don’t have to repay money that you borrowed – because you have to approved racial identity?

[Telepathic Intruder]

Just print that money like it’s nothing! That should really boost the economy.

[BenLurkin]

The “coronavirus pandemic” didn’t crush the economy. Government crushed the economy.

[lowbridge]

“the recipients likely will be predominantly Black.”

Unconstitutional and illegal, but what does it matter these days?

[Brandonmark]

I’m just going to identify as a minority and live off the taxpayers!

[AAABEST]

How do executives, now some slime-ass vice president, just give away money like that?

I thought this was America, and congress aithorizes money? Not Marxist bag-o-skank.

[skeeter]

What BLM was really about - free stuff for blacks and the ability to flout the law with no consequence.

[FlingWingFlyer]

It’s time for the American people to get rid of these commie bass turds. The executive branch does not have the authority to do this kind of commie SHT. They all need to be in prison.

[jeffersondem]

Grabbing with both hands now.

This has closed down more than one Walmart.

[bk1000]

Do it. In five years, 95% of it will be back in the pockets from where it came, and the recipients will still be crying about racist this and that. Maybe then they will begin to address the actual problem.

[devane617]

nothing new at all. This has been going on for years.

[FlingWingFlyer]

This is discrimination against Caucasians. The source of this money being swindled out of us by Africans living in this country.

[rktman]

Well since my kin folks fought for the Union side, I think I will stop paying bills as recompense for their sacrifice. 🤔👍

[Wdempsey]

Woke up congresscritters and stop this insanity!

[RoosterRedux]

That should really boost the economy.

It will certainly boost the sales of Escalades, weed/meth/crack, and malt liquor.

[Army Air Corps]

“I was born a poor black child...”

[JudyinCanada]

Methinks that “loans” made for millions of dollars, that are quietly forgiven before any payments are made are a pretty common and easy method of paying people off - I suspect the Bidens have received numerous loans that have since been cancelled. It’s only the average Joe that has to actually repay borrowed money.

[Thank You Rush]

Shades of Vilsack and Shirley Sherrod from obozo’s days funneling money to black farmers!

[PGR88]

I thought blacks were already loyal servants on the Democrat political plantation?

Is there some problem? Why do they need to be paid off with even more money?

[17th Miss Regt]

Maybe then they will begin to address the actual problem.

Who is 'they'? If it is the ones directing and administering this giveaway, they will not want to stop manipulating the target population for purposes of retaining power. If it is the recipients of the giveaway they will not want the gravy train to stop and will obey their masters. If it is the rest of us, we cannot fix the social problems in that community, and even if we could the recipients would reject the help for reasons of tribalism.