What does the Future Hold for Minority Business Development in an Obama Administration? - By Vivian Tse

President Barack Obama’s administration will have a lot on its hands in terms of catering to small business and minority business development. Coming into office in the midst of an uncertain domestic and global downturn, the president will have to address issues pertaining to income taxes, depreciation, labor policy, unions, medical leave and health care reform in order to alleviate the heavy burdens minority-owned businesses now face. Much was made of Joe the Plumber during the campaign and Obama’s plan to apply the Social Security tax on all annual incomes above $250,000, while those under this threshold would receive a tax cut. With all these issues at play, where do minority business interests lie in terms of the new administration’s priorities?