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WHEREAS, it will require sustained, collective action on the part of all of these leaders as well as the rest of the State to close these wealth gaps once and for all; and
WHEREAS, on June 18, 2021, I announced that I intended to create a task force focused on wealth disparities;
NOW, THEREFORE, I, PHILIP D. MURPHY, Governor of the State of New Jersey, by virtue of the authority vested in me by the Constitution and by the Statutes of this State, do hereby ORDER and DIRECT:
1. There is hereby established the Wealth Disparity Task Force (the “Task Force”) to examine the causes of and remedies for the long-standing wealth disparities that affect Black and Hispanic or Latino New Jerseyans. The Task Force will be divided into five Working Groups, which collectively are charged with reviewing research, data, and analysis in order to provide a report and evidence-based recommendations to the Governor for remedying these long-standing wealth disparities, which may include recommendations for one or more future disparity studies.
2. The five Working Groups shall consist of the following:
| a. | Working Group on Economy, which shall be responsible for examining the many interwoven factors in the economy that contribute to the persistence of the racial and ethnic wealth gaps, including disparities affecting Black and Hispanic or Latino New Jerseyans in income levels, unemployment, business ownership, and access to quality banking, credit, and financial services, and for developing recommendations to address these issues; |
