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How his presidency would affect your small business

How his presidency would affect your small business

Rhonda Abrams, Special to USA TODAY
Published 10:00 a.m. ET Oct. 14, 2020

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Learning to be flexible and to pivot quickly has helped O’Brien achieve great success as a reporter and entrepreneur.

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In the three decades I’ve been advocating for small businesses, there’s never been a more challenging time for them and for the self-employed. And we’re far from out of the woods as this pandemic is not yet under control, and the economy is likely to take a long time to recover.

We’ve seen how President Donald Trump and his administration have responded to this crisis, but what would an administration headed by Joe Biden and Kamala Harris look like for small business and the self-employed?

“Day one, the focus is getting the coronavirus under control,” said Rhett Buttle, Biden for President National Business Advisor. “One in six small businesses are probably not coming back, and COVID is top of mind for most small businesses. The effort to contain the virus and ensure recovery is part of Biden’s small business plan, and small business stakeholders and the focus on small business will be a critical part of that.”

Looking at Biden’s top 6 proposals:

► Grants, not loans, for true small businesses that have lost substantial revenue. “We’ve been doing small business roundtables around the country,” said Buttle, “and we’ve heard directly from small business owners that not only was PPP (the Paycheck Protection Program) mismanaged but they weren’t sure how forgiveness worked.”

My take: Biden has this right. Grants, instead of loans, were the better choice originally for small businesses who were being told they’d need to take on debt when they had no idea when they’d even be able to open – and low confidence in a program with a bungled rollout. Grants

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How a Biden Presidency Could Change the Housing Market

How a Biden Presidency Could Change the Housing Market

A man and woman carrying boxes into the kitchen of their new home.

Image source: Getty Images

The United States is deep in the throes of a housing crisis. There’s a shortage of affordable homes for low-income families, and tens of millions of Americans spend more than 30% of their income on housing. To that end, Democratic nominee Joe Biden has some ideas on how to change the housing market for the better. Here are some highlights from his campaign.

1. Protect homeowners from abusive lending practices

Unfortunately, some mortgage lenders are known to engage in practices that hurt homeowners financially. Biden proposes a new Homeowner and Renter Bill of Rights that seeks to prevent mortgage brokers from charging borrowers more than what’s appropriate (which generally occurs by jacking up their closing costs and fees). The Bill of Rights will also protect homeowners in the process of loan modification from foreclosure and give homeowners a clear path of recourse when lenders attempt to violate these protections.

2. Protect renters from abusive landlords

The aforementioned Bill of Rights will help renters, too. Landlords will not be allowed to discriminate against tenants who are receiving federal housing benefits. Furthermore, Biden’s plan will provide legal assistance to tenants facing eviction.

3. End discriminatory practices in the housing market

Redlining, or denying mortgages in specific communities due to their demographics, has long been a problem. Biden seeks to end that practice. He wants legislation that requires any state that receives certain federal grants to develop inclusionary zoning policies.

Along these lines, Biden wants to hold financial institutions accountable for discriminatory lending practices. That way, borrowers of all backgrounds and from all communities have a chance at financing a home. This standard will apply to non-bank lenders as well.

Biden also envisages a national standard for home appraisals. It’s often easier to sell or refinance a mortgage on

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How a Biden presidency may lead to increased supply in the oil market

How a Biden presidency may lead to increased supply in the oil market

  • A Biden presidency could bring 1 million barrels per day of Iranian oil back into the market, but lead to lower demand in the long run because of environmental concerns, said David Fyfe of Argus Media.
  • On the flip side, the Democrat’s policies on climate change — including re-entering the Paris Climate Accord — could be “bearish” for demand over the long run, he said.
  • Fyfe also said that his base case is for a “steady recovery” in oil, and that prices could return to the $50 to $55 range by late 2021.



a large ship in a body of water: An off-shore oil platform off the coast in Huntington Beach on Sunday, April 5, 2020.


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An off-shore oil platform off the coast in Huntington Beach on Sunday, April 5, 2020.

SINGAPORE — A Biden presidency could bring 1 million barrels per day of Iranian oil back into the market, but lead to lower demand in the long run, an economist said this week.

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That’s because Democratic presidential candidate Joe Biden is likely to reestablish relations with Tehran if he is elected, but introduce environmental policies that limit U.S. oil and gas, said David Fyfe of Argus Media.

“Arguably, a Biden presidency would move fairly rapidly toward some sort of rapprochement with Iran,” he told CNBC’s “Capital Connection” on Friday.

“That of course could lead to maybe up to a million barrels a day of Iranian oil coming back onto the market,” he said. “It might not happen immediately, but you could see that happening within the sort of first six months of a Biden presidency.”

By contrast, the Trump administration has put maximum pressure on Iran, which has seen heavy economic sanctions imposed on the Islamic Republic, including on its oil exports.

OPEC has a ‘pretty bullish’ long-term oil demand forecast, says economist

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Biden has been leading President Donald Trump in

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