Why Giving Cash To The Poor Has Become The Hot Ticket In NYC s Mayoral Race
arrow NYC Mayoral candidate Andrew Yang speaks during Martin Luther King celebration at Al Sharpton’s National Action Network in Harlem. Lev Radin/Pacific Press/Shutterstock
Of all the policy ideas being hashed out in this year s race for New York City mayor, none has animated progressives more than using unconditional cash payments as a way of alleviating poverty. During his presidential run, Andrew Yang became one of the biggest evangelists for the concept, calling on the federal government to provide a so-called universal basic income [UBI] of $1,000 per month. As a mayoral candidate, he has scaled-back that pitch considerably, stripping it of its reach and magnitude his new plan aims to give about $2,000
Ben Fractenberg/THE CITY
The city’s already slower-than-expected economic recovery from the pandemic downturn has stalled and threatens a see-saw double-dip recession, at least for the early months of the year.
New York City lost 7,500 jobs in December, state labor data released Thursday shows, primarily because of the shutdown of indoor dining. It marked the first decline in jobs since a low in April.
Meanwhile, a special tax credit for restaurants proposed by Gov. Andrew Cuomo this week drew weak praise from the city’s devastated sector. The de Blasio administration deflected a plea for property tax relief for equally slammed hotels. And Cuomo failed to follow states like California and Maryland in proposing direct aid to the hardest hit families.
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People eat outside in Fort Greene, Brooklyn during the coronavirus outbreak, Dec. 29, 2020. (Ben Fractenberg/THE CITY)
This story was originally published on January 21 2021 by THE CITY. Sign up here to get the latest stories from THE CITY delivered to you each morning.
The city s already slower-than-expected economic recovery from the pandemic downturn has stalled and threatens a see-saw double-dip recession, at least for the early months of the year.
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New York City lost 7,500 jobs in December, state labor data released Thursday shows, primarily because of the shutdown of indoor dining. It marked the first decline in jobs since a low in April.
No stimulus could be too large for New York City, where capital needs for public housing are as high as $40 billion and the MTA is facing long-term structural challenges.