New York City is considering offering reparations to the descendants of slaves under new proposals recently approved by the City Council.
The plans, aimed at recognizing and addressing the lasting impact of slavery in New York City, are pending approval from Democratic Mayor Eric Adams.
According to the City Council, New York once had one of the highest rates of slave ownership in the country during the 1700s, and although slavery was officially abolished in 1827, many businesses—some of which are predecessors of modern banks—continued to benefit from the slave trade until 1866. Lawmakers backing the proposals argue that the legacy of slavery continues to harm Black Americans today.
One of the proposals includes installing a plaque on Wall Street in Manhattan to commemorate the location of New York’s first slave market, which operated between 1711 and 1762.
Public Advocate Jumaane Williams emphasized the moral responsibility to acknowledge this history, stating, “The wealth of Wall Street banks was built on the backs of human beings sold at that very spot, and we have an obligation to confront the pain of enslaved people in our city and the role slavery played in New York’s economy.”
Council Member Farah Louis, who sponsored one of the bills, said the reparations movement is often misunderstood as simply a call for financial compensation. She added that Black Americans still suffer from systemic oppression, such as underfunded services in predominantly Black neighborhoods. “Does that mean we are going to hand everyone a check? No,” Louis said, according to The New York Times. “But starting the conversation is the most important part.”
City Hall expressed support for the proposals, calling them “a crucial step towards addressing systemic inequities, fostering reconciliation, and creating a more just and equitable future for all New Yorkers.”
However, not all city council members are in favor. Republican minority leader Joseph Borelli, who represents Staten Island, opposed the plans. “I bear no responsibility for slavery,” Borelli said. “Unless someone can explain why I should feel personal or societal guilt through my taxes, I’m opposed.”
The proposed legislation would instruct the city’s Commission on Racial Equity to recommend ways to address the lasting impact of slavery, including potential reparations. It also aims to establish a truth and reconciliation process to document the history of slavery in the state. The commission would work alongside a similar state-level effort currently exploring the possibility of reparations.