As Chair of the House Financial Service Subcommittee and Inclusion, Representative Joyce Beatty is taking the responsibility to shine a light on and remedy the serious, historic inequities faced by unbanked and underbanked Americans, including communities of color, minority-owned businesses and our most vulnerable citizens.
That’s why last week, Rep. Beatty proudly introduced the Jobs and Neighborhoods Investment Act, H.R. 7709 with Congressman Gregory Meeks and Senators Mark Warner, Cory Booker, Kamala Harris, and Chuck Schumer.
This legislation would secure much-needed funds to provide greater economic security and relief for all small businesses, their employees, neighborhoods, and communities in the Third Congressional District and the country.
The Jobs and Neighborhoods Investment Act, H.R. 7709 will make a new $17.9 billion investment in low-income and minority communities that have been especially hard hit by the COVID-19 crisis.
In addition, this act will open up billions in new credit opportunities for Black, Latino, and low-income communities through neighborhood lenders, something that is vital to the future of Ohio’s Third Congressional District.
A measure in this legislative package mirrors the Expanding Opportunity for MDIs Act, H.R. 5315, a bill Rep. Beatty authored that was passed by the U.S. House of Representatives earlier this year. This measure will help pair Minority Depository Institutions with larger financial institutions to expand business and consumer products.
Democrats in Congress are dedicated to rebuilding an American economy that works for all communities.