Treasury Department appoints first “Racial Equity Advisor” – .

Treasury Department appoints first “Racial Equity Advisor” – .

Treasury Secretary Janet Yellen revealed the department’s first “racial equity adviser” on Monday, announcing the appointment of Janis Bowdler.

A press release said Bowdler “will be responsible for coordinating Treasury’s efforts to advance racial equity, including engaging with diverse communities across the country and identifying and mitigating barriers to accessing benefits. and opportunities with the department ”.

The department described Bowdler’s resume, noting that “[m]ost recently, Janis served as chairman of the JPMorgan Chase & Co Foundation. Under his leadership, the company launched several critical initiatives that increased capital for entrepreneurs of color, improved access to banking products and services, expanded access to new professional skills and build more inclusive neighborhoods. Janis was instrumental in developing the company’s additional $ 30 billion racial equity commitment.

“The US economy has historically not worked fairly for communities of color. The pandemic has highlighted this inequity; people of color were often the first to lose their jobs and businesses. The Treasury must play a central role in ensuring that as our economy recovers from the pandemic, it recovers in a way that addresses the inequalities that existed long before anyone became infected with COVID-19, ”said Secretary Janet Yellen. “I am delighted that Janis is joining us and dedicating her efforts to this mission. “

“I couldn’t be more touched by the historic opportunity to serve as the US Treasury Department’s Senior Advisor on Racial Equity,” Bowdler said. “I have spent my entire career working in solidarity with Blacks, Latinxes, AAPIs, Indigenous communities and other communities of color to dismantle the structural and institutional racism that perpetuates the racial division of wealth. “

“Addressing racial and gender disparities and giving underserved communities better access to opportunities creates more widely shared prosperity for all. Thanks to Secretary Yellen for entrusting me with this position to help drive the Biden administration’s commitment to center racial equity in its work, ”Bowdler added.

Yellen came under heavy criticism on Monday after saying this weekend that Senate Democrats were considering imposing a tax on unrealized capital gains on wealthiest Americans.

Like the daily thread reported, “Yellen made the remarks in response to a question from Tapper about whether a wealth tax should be part of how Democrats seek to foot Biden’s $ 3.5 trillion social spending bill. . “

“Well, I think what is under consideration is a proposal that Senator Wyden and the Senate Finance Committee have considered which would impose a tax on unrealized capital gains, on liquid assets held by individuals. extremely rich, billionaires, ”replied Yellen. “I wouldn’t call it a wealth tax. But it would help to achieve capital gains, which represent an extremely large part of the income of the wealthiest individuals, and which currently escape tax, until they are realized, and often they are not realized. in the death benefit of a so-called base climb.

“So it is not a wealth tax, but a tax on unrealized capital gains of exceptionally wealthy people,” she added.

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