Biden’s Treasury: Race Must Be Considered in Crafting All Fiscal Policies

In a document that flew under the radar, the Joe Biden Department of Treasury has issued a plan that doubles down on the racial justice movement by declaring the agency in charge of the nation’s fiscal infrastructure must now consider race when crafting federal policies.

The declaration came in the form of response to Executive Order 13985, issued on January 20, 2021, titled “Advancing Racial Equity and Support for Underserved Communities Through the Federal Government.” The announcement said:

The Department of the Treasury’s mission is to maintain a strong economy and create economic and job opportunities by promoting the conditions that enable economic growth and stability at home and abroad, strengthen national security by combating threats and protecting the integrity of the financial system, and manage the U.S. Government’s finances and resources effectively.

The American Rescue Plan (ARP) is a $1.9 trillion package of which more than $1 trillion is managed by Treasury to jumpstart the nation’s economic recovery. Through its ARP investments, Treasury is working to ensure that families, businesses, and neighborhoods that have been historically excluded from economic opportunities or experienced persistent poverty are fully included in the nation’s economic recovery and future growth.

The announcement includes “new strategies to advance equity,” including:

Prioritizing fiscal rewards based on race:

• Foster an equitable recovery that helps ensure all Americans rebound from the economic consequences of a global pandemic – READ MORE