October 10, 2022
Thom Carroll/For PhillyVoice
Michael Nutter, the former Philadelphia mayor who is now a professor of urban and public affairs at Columbia University, was tapped by the U.S. Treasury Department to lead its first advisory committee on racial equity.
Michael Nutter has been tapped to lead an advisory committee on racial equity at the U.S. Treasury Department that will identify barriers to economic participation among communities of color and issue recommendation on how to address financial disparities.
Nutter, who served as Philadelphia mayor from 2008 to 2015 and is now a professor of urban and public affairs at Columbia University, will co-chair the 25-person inaugural committee.>
The committee will examine how the economy has directly and indirectly harmed communities of color, addressing the topics of housing stability, economic development, access to capital, financial inclusion and diversity among federal suppliers.
Nutter will work alongside co-chair Felicia Wong, president and CEO of the Roosevelt Foundation, which seeks to advance Franklin and Eleanor Roosevelt's vision for equal opportunity for all.
"I am deeply honored to have been asked to serve, and provide leadership, for this inaugural effort," Nutter said. "The creation of this committee is a shining example and a testament to the commitment of Secretary (Janet) Yellen, Deputy Secretary (Wally) Adeyemo, Counselor (Janis) Bowdler, and so many others in the Treasury Department who are focused on the task at hand — how do we find, focus and factor into programs and policies the issue of racial equity."
Nutter added that equity and opportunity can lead to prosperity for all Americans, and particularly for people of color.
Pleased and honored to attend @USTreasury event and the Freedman's Bank Forum with @KamalaHarris. Also honored to serve on TACRE https://t.co/gY814lZdIZ pic.twitter.com/Zcns7GGd58
— Michael A. Nutter (@Michael_Nutter) October 4, 2022
The committee was formed as the result of a department-wide equity assessment conducted in 2021. Treasury officials sought to establish an institution to gather on-the-ground insights on improving racial equity.
Each committee member will serve a two-year term, and will meet with Treasury officials to present recommendations on improving economic participation and addressing barriers among people of color.
The other members include David Clunie, executive director of the Black Economic Alliance; Nicole Borromeo, executive vice president and general council of the Alaska Federation of Natives; Michael Miebach, CEO of Mastercard; and Barika Williams, executive director of The Association for Neighborhood Housing and Development.
"A critical piece of executing our racial equity goals is bringing a wide set of outside perspectives and lived experiences to the decision-making table," Yellen said. "The Treasury Advisory Committee on Racial Equity, made up of members with wide-ranging backgrounds and expertise, will provide important insight and advice to leadership across the department to bolster and inform our equity efforts."
Nutter served as a member of City Council for 15 years before being elected mayor in 2007. During his time as mayor, Philadelphia's population grew for the first time in 57 years, as murder and violent crime rates fell steeply, Billy Penn reported. Nutter's legacy in Philadelphia — though complicated — has largely been remembered positively.
"I have nothing but the best wishes for the next administration and will continue my focus on, in some way, making the city safer, more educated, doing whatever I can to continue to promote the city, to create job opportunities and attract more capital and to make more young people, and young-at-heart people, see the city for the great place it is," Nutter told PhillyVoice in a 2015 interview conducted shortly before he left office.
Last year, Nutter formed public affairs firm 40 North Advocacy with two people who worked with him on Michael Bloomberg's 2020 presidential campaign. Nutter joined that campaign shortly after the former New York City mayor announced his candidacy in late 2019.
