Title
Authorizing the creation of the Philadelphia Reparations Task Force to study and develop reparations proposals for Black Philadelphian Descendants of Enslaved Africans in the United States.
Body
WHEREAS, From 1619 through 1865, the transatlantic slave trade resulted in approximately 4,000,000 Africans and their descendants being enslaved in the United States; and
WHERAS, Although the institution of slavery became illegal in the United States in 1865, discrimination against Black Americans continued through racist practices including Redlining, Jim Crow, and Black Codes; and
WHEREAS, In the past, the City of Philadelphia has taken steps to address its past involvement in the illegal institution of slavery; and
WHEREAS, Philadelphia's Slavery Era Business/Corporate Insurance Disclosure laws were enacted in 2004 requiring City contractors to complete affidavits verifying that they have searched any and all of their company's or predecessor company records regarding investments or profits earned from slavery or slaveholder insurance policies during slavery; and
WHEREAS, Under these laws, any financial institution authorized to receive deposits from the City that has disclosed slavery policies or profits, they must provide the City with a statement of financial reparations, including a description of new financial products or programs developed to address racial disparities in its lending and investment activities; and
WHEREAS, Black Philadelphians, specifically those descended from Enslaved Africans continue to suffer extraordinary disparities in economic, educational, housing, and healthcare outcomes as a result of the illegal institution of slavery. Before the COVID-19 Pandemic, at a staggering 30.8%, Black Philadelphians had a poverty rate more than twice that of non-Hispanic White Philadelphians; and
WHEREAS, Although more than 40% of Philadelphia's residents are Black, only 6% of the City's businesses are Black-owned; and
WHEREAS, Multiple C...
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