President Joe Biden is claiming credit for the rapid growth of Black-owned small businesses, stating it's the fastest pace in over 30 years. During his visit to Milwaukee, Biden celebrated the progress, attributing it to the administration's investments in Black entrepreneurship. Since taking office, the U.S. witnessed a record 15 million new business applications, with Black households owning businesses doubling between 2019 and 2022. The administration has allocated $70 billion in federal contracts to small, disadvantaged businesses and invested $12 billion in community lenders to boost access to capital. The administration's initiatives aim to level the economic playing field, create jobs, and generate wealth in Black communities. Between 2019 and 2022, wealth for Black families increased by 61%. Biden pledged $15 billion for infrastructure, contrasting Trump's focus on women and minority-owned businesses.