The California Endowment, a large multi-billion dollar non-profit foundation announced that it will be allocating over 100 million dollars to the California Asian business community.
The slush fund is guaranteeing 10 million dollars a year for the next decade in grants exclusively for the Asian community to use as startup capital for California’s slew of failing Asian businesses.
The original proposal for the gargantuan investment comes from the California Asian & Pacific Islander Legislative Caucus, which has 10 members in the 120-member state Legislature.
The caucus has continued to seek ridiculous amounts of state as well as private funding to prop up the Asian community who in recent years have been devastated due to Americans refusing to patronize their businesses.
According to California assembly member Phil Ting, a Democrat from San Francisco who heads the Assembly Budget Committee and a longtime member the California Asian & Pacific Islander Legislative Caucus stated that $20 million would go to funding cultural enclaves including traditional Chinatowns, Japantowns, Koreatowns, and Little Manilas.
However the caucus isn’t finished yet. The group seeks to make its biggest gains in the upcoming July 1 California budgetary showdown where the largest economy in the US will decide on which communities will feast upon the $76 billion dollar budget surplus being marked up this year.
There are no major Black California lobbying organizations or political action committees listed on California’s official state registry. That needs to change, B1.
–Sylvester Loving, Barrington Williams, B1Daily
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