Kamala Harris proposes forgivable loans for marijuana businesses to support Black entrepreneurs

Vice President Kamala Harris has taken a bold step in her 2024 presidential campaign by proposing forgivable loans to support legal marijuana businesses, particularly those run by Black entrepreneurs. Their proposal comes at a time when the cannabis industry continues to grow and equity in this market continues to be a hot topic. Harris believes access to capital will help level the playing field in an industry where Black Americans have historically faced barriers due to discriminatory practices, such as being disproportionately affected by drug-related criminal charges.

By highlighting this issue, Harris positions herself as a strong advocate for cannabis legalization and social justice reform, seeking to close the gaps created by decades of unequal marijuana enforcement policies. Their plan aims to give Black entrepreneurs a significant share of the growing cannabis market, which many see as a potential means of wealth creation in historically marginalized communities.

However, Harris' proposal is not without competition. Former President Donald Trump, who is also running for re-election, has made overtures to the Black community, particularly around economic empowerment. Trump's camp expressed concerns about Harris' actions, calling it another handout from the administration. They argue that the solution lies in cutting bureaucracy and lowering taxes rather than making forgivable loans.

With cannabis legalization remaining a key issue in the 2024 election, Harris' plan could resonate with voters who support social justice in the cannabis industry. It also distinguishes her from Trump, who has been less specific in his policy details on legalizing marijuana but has continued to hold sway over black voters through promises of economic reform. Both candidates appear to recognize the importance of the marijuana debate in winning votes, particularly in minority communities.