There’s No NYC Recovery Without Alleviating Poverty
By Andrew Yang
This piece is the second of a series to hear from New York City mayoral candidates.
COVID plunged the city not only into a public health crisis, but an economic one. But we can’t pretend that all New Yorkers were thriving before the pandemic struck. In fact, 16% of New Yorkers already lived in poverty.
The next Mayor of New York will have the unique responsibility of leading this great city out of a historic crisis, and I will execute on my anti-poverty agenda to make that happen.
First, our $1 billion basic income program will start by providing 500,000 New Yorkers living in extreme poverty with an average of $2,000 per year. All New Yorkers are eligible for our cash relief program regardless of immigration status or experience with the criminal justice system. This basic income will be supplementary to existing benefits programs. For New Yorkers living well below the poverty line, $2,000 can help be the difference between having food and going hungry.
Second, I’ve also committed to reopening or creating 15,000 small businesses in my first year in office. The People’s Bank will help us get there. Funded with a $100 million loan from New York City, the People’s Bank will support small business lending in underserved communities by guaranteeing loans and loan portfolios while complementing the work of existing Community Development Financial Institutions.
The People’s Bank will also ensure access to bank accounts. Right now, 11% of New Yorkers lack access to bank accounts, meaning they often rely on check cashing which can cost $600 or more a year in unnecessary fees. Our bank will alleviate that problem and will also accept IDNYC cards so that undocumented immigrants also have access.
Third, we need to address housing, starting with problems with the New York City Housing Authority and the looming eviction crisis. The city has completely failed in its role as landlord for the over 400,000 New Yorkers who call NYCHA home. We need $48 billion in federal funding and I will leverage my friendships and connections with the White House and members of Congress to secure that commitment for repairs, mold and lead removal, and capital improvements.
This funding will also support an ambitious Green Revolution for NYCHA to decarbonize public housing and introduce more resident democracy and job training for NYCHA residents. This program will create over 320,000 jobs while driving $96 billion in local economic activity over ten years. I was proud to have developed this NYCHA plan with Data for Progress.
Further, we should extend the eviction moratorium for New Yorkers struggling to pay rent to landlords due to the pandemic. That must also include expanding the right to counsel for evictions proceedings and providing property tax incentives for landlords who forgive rent. Likewise, homeowners in distress should also have access to property tax forbearances and emergency homeowner stability programs to preserve multi-generational homes and keep longtime residents in their neighborhoods.
Accomplishing all of these goals won’t be easy. But we have to hit the ground running and have New Yorkers with us every step of the way.
That’s why our campaign has already launched the Get Out the Vax initiative. We are mobilizing many of our 3,500 volunteers to reach out to New Yorkers 65 and older to ensure the vaccine rollout is equitable and that underserved New Yorkers know how to navigate the byzantine process of accessing a vaccine. Through canvassing, calling and texting, our campaign is already helping ensure New York’s recovery reaches all neighborhoods.
So to get New Yorkers back on their feet, we need not just the plans, but the willpower, creativity, and leadership to accomplish what needs to be done. I have led companies, a non-profit and an anti-poverty movement, all from right here in New York. As Mayor, I will use every tool at my disposal to tackle problems that should have been addressed years ago. Falling short isn’t an option.
Andrew Yang (@AndrewYang) is a Democratic candidate for Mayor of New York.