A New Administration Sets Its Course

Last month, a new administration took over in Washington D.C., with the inauguration of President Joe Biden. Many new senators and representatives also assumed new roles within the government.

Historical Diversity

There are many firsts in the new administration, most notably the first female Vice President in the history of our country, Kamala Harris. Vice President Harris also is the first ever Black person and the first Asian American to become Vice President.

In addition, President Biden has committed to field the most diverse cabinet in history. His nominations include many women, people of color, and those in the LGBTQ+ community. Notably, General Lloyd Austin is the first Black American to hold the role of Secretary of Defense; Janet Yellen, named Secretary of the Treasury, is the first woman to run the Treasury department; and Pete Buttigieg, who as the Secretary of Transportation and is the first openly LGBTQ+ person in U.S. history to have a permanent Cabinet role.

A Focus on COVID-19

President Biden enters office during one of the worst pandemics in our country’s history. As the nation continues to grapple with the consequences of COVID-19, President Biden has pledged that 100 million COVID-19 vaccinations will be administered in his first 100 days in office, a goal that experts expect to be met based on his first 30 days in office. He has also pledged to work with Congress to provide economic relief to all of those affected by the coronavirus.

Business Impact

President Biden has indicated he will encourage support for small businesses during his administration, with potential for an increase in programs designed to help independent business owners and start-ups. On January 25, President Biden issued an Executive Order entitled Ensuring the Future Is Made in All of America by All of America’s Workers, which directs the federal government to purchase goods and services from American-owned businesses whenever possible. The order serves to update current Made in America policy, increase reliance on U.S. manufacturing, and centralize and potentially limit the use of waivers.   

Additionally, Congress is close to passing a $1.9 trillion COVID-19 relief bill intended to ramp up the American economy. The bill includes protections for small businesses, such as immediate loans and rent payments to keep their doors open, as well as expedited aide to businesses that are committed to keeping their workers employed.

The most prominent theme within President Biden’s administration is change. It’s hard to predict exactly what the next four years will hold, but we can be certain that change is in the cards.