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The Big Idea: Andrew Yang Is Betting On A People's Bank To Help Struggling Low-Income New Yorkers

The People s Bank would be similar to a public bank. ....

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The Big Idea: A Mayoral Hopeful Wants To Give Annual Cash Payments To NYC Kids

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Shaun Donovan speaks in the Bronx during a virtual announcement of his candidacy for the 2021 New York City mayoral campaign
Bebeto Matthews/AP/Shutterstock
Giving cash payments to the poor has become the latest hot policy idea bubbling up from both progressives and conservatives across the country. In New York City, Andrew Yang, the former tech entrepreneur, jumped into the mayor s race by pledging to give roughly $2,000 a year to half a million of the city s lowest-income residents, a scaled-back version of a Universal Basic Income plan he introduced during his presidential run.
But Yang is not the only mayoral candidate in favor of putting more money directly in the hands of people. Shaun Donovan, the former Obama administration housing secretary, is campaigning on an economic plan previously known as Baby Bonds. Donovan s Equity Bonds would establish government savings accounts for all New York City children and make annual contributions ....

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Why Giving Cash To The Poor Has Become The "Hot Ticket" In NYC's Mayoral Race

Why Giving Cash To The Poor Has Become The Hot Ticket In NYC s Mayoral Race
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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 ....

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