The BEAT Sheet – May 2023
By Black Economic Alliance |
Our inaugural BEA Solutions Summit on March 21 brought together decision-makers from business, government, and philanthropy to build consensus on the leading solutions to advance work, wages, and wealth across the Black community.
The Summit highlighted research, on-the-ground solutions, and insights from prominent leaders such as Vice President Kamala Harris, Ambassador Susan Rice, Ariel Investments Founder John Rogers, Bank of America CEO Brian Moynihan, Minority Leader Hakeem Jeffries, author Heather McGhee, and former Massachusetts Governor Deval Patrick.
We are grateful to our Summit sponsors Deloitte, Bank of America, Capital One Insights Center, AARP, Apple, and Bloomberg Philanthropies for their partnership.
The night before the Summit, BEA-PAC held a fundraiser for House Minority Leader Hakeem Jeffries. It is a reflection of BEA’s commitment to partnering with Leader Jeffries but also our strong support for leaders with a shared commitment to our work, wages, and wealth agenda.
On May 12, President Biden nominated Dr. Philip Jefferson for Vice Chair and Dr. Lisa Cook for an additional full term as a Member of the Federal Reserve Board of Governors. Both of these eminent economists were originally nominated last year following a campaign by BEA and partner Black-led organizations urging the Administration to diversify economic appointments as a means of ensuring a more equitable economy.
If confirmed, Dr. Jefferson will become the second Black Vice Chair of the Federal Reserve Board, and Dr. Cook – the first Black woman member of the Board – will serve a full 14-year term. BEA is proud to have advocated for these nominees and are confident their contributions will advance work, wealth and wages for Black Americans.
The truth is, we need to do more of what we’re doing here at these two universities, around the country, to unlock the unrealized talent in the Black community.”
–Deputy Secretary Adeyemo
In February, the Center for Black Entrepreneurship (CBE) was honored to host Deputy Secretary of the U.S. Treasury Wally Adeyemo, U.S. SBA Administrator Isabella Casillas Guzman, U.S. Rep. Nikema Williams (GA-05), and other state and local officials.
As Samantha Tweedy said in a statement, the EO “…is an important step towards dismantling deeply entrenched and pervasive systems that have long held back the Black community.”
Earlier in the year during his State of the Union Address, President Biden reiterated his support for another long standing BEA policy priority: making the fully-refundable Child Tax Credit permanent.
Rich Dennis, who joined BEA’s board in 2020, is one of the most successful entrepreneurs in the world – and he has made it his mission to build an entire ecosystem to support other entrepreneurs of color. Rich has created a groundbreaking $100 million New Voices Fund to invest in and empower women of color entrepreneurs.
In addition, he founded the New Voices Foundation to provide support services for women of color entrepreneurs to achieve their vision through leadership development, skills-building, networking opportunities, and other innovative leadership initiatives.