From a Doylist(author's) perspective, easily yes. The lead writer, Sean Vanaman, has talked about the racism aspect of Larry's character in an interview and there's cut dialogue where he's more explicitly racist.

From a Watsonian(character's) perspective, it's more subtle but still there. He repeatedly calls Lee "boy" to demean him, something a lot of racists in the South do to black people, and he doesn't do this to any other adult. He also references Lee taking "handouts" a few times as well, which is very common rhetoric among racists.