Commentary: Emeryville action could change working world
Like many people, when the alarm goes off, I hit snooze a few times and wish for more sleep. But what gets me out of bed is that precious hour I have with my young son. We eat breakfast together,...
Like many people, when the alarm goes off, I hit snooze a few times and wish for more sleep. But what gets me out of bed is that precious hour I have with my young son. We eat breakfast together, we race to see who can get dressed first, and then I walk him to school.
I’m lucky– as a salaried employee at an organization that values flexibility and family, I can arrange my schedule around my son if need be. But for people working low-wage hourly jobs, that kind of control over their scheduling is virtually unheard of.
Today, corporations that pay low wages rarely provide their employees with full-time work or reliable hours. Take Manuel, who works at one of Emeryville’s many retail chains. He had his hours cut from 20 a week down to four, and then nothing for two weeks — throwing his family into massive debt.
Emeryville may be the first city in the East Bay to change that, where the City Council is voting on a Fair Workweek policy on Oct. 18. This is part of a simple set of standards needed to ensure that working people can afford to stay in the East Bay region.
What is a Fair Workweek? It means employers must provide reliable, predictable hours so their employees can budget. Workers get schedules two weeks in advance so they can plan childcare, second jobs, family time, and even rest. And when more hours are available, current employees get priority so they can get closer to full-time work.
In Emeryville, the policy would only apply to large companies with more than 12 locations worldwide. These simple improvements would cost employers almost nothing if they follow the law and have a huge impact on the lives of thousands of Emeryville workers. Hundreds of thousands more working people would benefit if other East Bay cities follow suit.
Emeryville’s own Economic Development Advisory Committee – the city’s business advisory group – said even they agree that increasing stability of schedules, reducing employee turnover, and decreasing underemployment in Emeryville is important. And that’s what a Fair Workweek policy would do.
Many companies are already doing the right thing. This policy would reinforce that good behavior and target companies that are bad actors. However, global, multi-billion dollar corporations and their lobbyists are coming out against this low-cost policy, claiming it will kill the economic climate. But I wonder: how exactly would reliable schedules hurt companies like IKEA, The Gap or Home Depot?
Before the recession, big business painted doomsday scenarios saying that raising wages would force them to close shop. During the Great Recession, working people bore the brunt of tough times in the form of reduced pay, slashed benefits, and a cutback to part-time hours. And now that big business has not only recovered but is booming, companies are back to the mantra that improving standards for their workers will hurt them.
Common sense tells us that business — especially big business — is doing fine. Look at quarterly earning reports of Emeryville’s global retail chains. Sales tax revenue in Emeryville was up 2.4 percent in 2015 compared to the previous year according to the city’s Finance Department. Retail vacancies in the region are at a post-recession low of 6 percent. And of course, there are growing lines of cars and customers coming in and out of Emeryville’s shopping centers.
While business is thriving, working people have waited long enough for something so very basic: a single job that pays enough with enough hours to allow folks to meet their basic needs.
Raising the minimum wage helped struggling workers. Now we must finish the job by providing reliable, predictable hours. This economic boom shouldn’t just be a boon for shareholders. It should also lift the working people who are the backbone of our economy.
By Jennifer Lin
Source
New Report Details Fundamental Flaws in Long Island Workforce Housing Act
For Immediate Release: May 14, 2015
Contact: Ricardo A. Ramírez, rramirez@populardemocracy.org, 202-464-7376
Read the report here: /documents/long-island-workforce-housing-act-report-2015-05112015pdf
Seven years after New York State passed landmark legislation to increase affordable housing on Long Island, a new report finds that not only does the affordable-housing crisis persist, but the legislation has fundamental flaws that prevent it from paving the way to affordable homes for Long Island’s families.
The Long Island Workforce Housing Act, enacted in 2008, sets affordability too high for working families, has loopholes for developers, and doesn’t require that towns report relevant information to the state, according to the report, commissioned by the Long Island Community Foundation and written by the Center for Popular Democracy, a national group dedicated to equity issues.
“There is much more work to do before our state and local laws foster a community where all working families can find affordable housing,” said Amy Carroll, Chief of Staff of the Center for Popular Democracy, who released the report. “While the Long Island Workforce Housing Act was a first step to tackle the crisis of affordable housing on Long Island, the data is clear: Seven years later, the difficult housing market is failing to provide options for Long Islanders who need affordable housing – from seniors to young professionals and working families. Worse still, the lack of affordable housing exacerbates segregation in the region, and disproportionately impacts Long Island’s working families, residents of color, and immigrant communities.”
“This truly is a crisis -- Long Island is losing large employers to other regions that are more hospitable to employers and workers,” said David Okorn, of the Long Island Community Foundation. “We’re failing to meet the needs of our elders, young professionals and working families, and Long Islanders continue to live in segregated communities.”
“After fighting for affordable housing in Garden City for more than 10 years, NYCC members know that blatant discrimination is alive and well on Long Island,” said Diane Goins, President Long Island Chapter New York Communities for Change. “When the Long Island Workforce Housing Act was passed, many low- and moderate-income residents in Nassau and Suffolk hoped that it would lead to more inclusive, mixed-income communities. CPD’s report clearly shows that this law is flawed and has failed to provide real affordable housing in our communities on Long Island, continuing the pattern of segregation that has plagued us for decades.”
"As the Assembly sponsor of the original version of this legislation, I fully support efforts to examine whether the Long Island Workforce Housing Act is working and helping Long Island families. The Center for Popular Democracy has put forth recommendations that should be considered as more efforts are needed to tackle the shortage of affordable housing on Long Island," said New York State Comptroller Thomas P. DiNapoli.
“Long Island’s housing policies, by design and by default, have failed to meet the housing needs of diverse populations; diverse racially, by income levels, by family composition, and the like,” said V. Elaine Gross, president of ERASE Racism. “Regrettably, the Long Island Workforce Housing Act has not been the hoped for solution. Now is the time to reject housing policies that concentrate poverty and segregate racially, and create policies that support racially and economically integrated communities where all residents can thrive.”
“The Act may have caused some municipalities to become more aware of their housing needs; however, it did little to stimulate the creation of affordable homes on Long Island as was its stated intent,” said Jim Morgo, Suffolk County’s first Commissioner of Economic Development and Workforce Housing. “Revisions in the law and especially state incentives would help additional municipalities meet the varied housing needs of low- and moderate-income Long Islanders.”
“Developers are ready to be part of the solution to address Long Island’s affordable housing crisis. Our members are eager to build quality, affordable homes,” said Mitch Palley, CEO of the Long Island Builders Institute. “We need local governments to work with us to change the zoning and other regulatory barriers that stand in our way.”
The report highlights significant flaws in the Act that have hampered its implementation and stresses that fixing these problems requires state policymakers to reimagine public policies that truly ensure access to affordable, quality housing for working families and foster diverse, mixed-income communities.
Flaws with the Long Island Workforce Housing Act:
Sets affordability too high and out of reach for working families in Long Island, targeting families making $140,000 per year.
Includes loopholes, such as allowing developers to build affordable units off-site, that could exacerbate racial segregation
Includes no requirements that towns keep or report information about affordable housing construction to the state to facilitate analysis of compliance with the Act;
Includes no enforcement mechanisms to allow residents or the state to hold towns or developers accountable for violations and no public education on its requirements; and
Has significant drafting and technical problems that complicate interpretation and application of the law
The report urges leaders in Long Island and New York State as a whole to take a comprehensive, holistic approach to tackling the crisis of affordability. Recommendations include:
Requirements and/or incentives for jurisdictions to accommodate their share of the regional affordable housing need;
Targeting affordability for families across the income spectrum, including those at 50% of area median income and below;
Promotion of inclusive, mixed-income communities, and steps for municipalities to affirmatively further fair housing goals;
Investment in high-poverty areas to ensure revitalization, and protections against displacement of existing low-income communities; and
Effective government oversight and enforcement, including adequate record-keeping and reporting by local governments about their efforts to address affordability and fair housing issues.
Read the report here: /documents/long-island-workforce-housing-act-report-2015-05112015pdf.
About LICF:
Since 1978, the Long Island Community Foundation has been the home of charitable Long Islanders who share a passion and commitment to improve their communities. LICF supports an array of effective nonprofits that help make Long Island a vital and secure place to live, learn, work, and play, while building permanent resources for the future. The Foundation has made more than $150 million in grants from hundreds of funds established by individuals, families, and businesses. LICF is a division of The New York Community Trust, one of the country’s oldest and largest community foundations. To learn more about LICF, go to www.licf.org.
About the Center for Popular Democracy:
CPD works to create equity, opportunity and a dynamic democracy in partnership with high-impact base-building organizations, organizing alliances, and progressive unions. CPD strengthens our collective capacity to envision and win an innovative pro-worker, pro-immigrant, racial and economic justice agenda. For more information, go to www.populardemocracy.org.
Undocumented in Texas: Surviving Hurricane Harvey and the Repeal of DACA
Undocumented in Texas: Surviving Hurricane Harvey and the Repeal of DACA
Today we bring you a conversation about undocumented families seeking relief from Hurricane Harvey, the ongoing fight against an anti-immigrant bill in Texas, DACA and more with Greg Casar, a city...
Today we bring you a conversation about undocumented families seeking relief from Hurricane Harvey, the ongoing fight against an anti-immigrant bill in Texas, DACA and more with Greg Casar, a city councilman in Austin representing District 4.
Six retailers agree to end on-call scheduling: AG Schneiderman
Six retailers agree to end on-call scheduling: AG Schneiderman
Six national retailers will cease to use on-call scheduling methods for employees nationwide following a multistate investigation, New York Attorney General Eric Schneiderman announced in a press...
Six national retailers will cease to use on-call scheduling methods for employees nationwide following a multistate investigation, New York Attorney General Eric Schneiderman announced in a press release Tuesday.
Aeropostale, Carter’s, David’s Tea, Disney, PacSun, and Zumiez were approached by attorney generals in eight states and the District of Columbia regarding the scheduling practice, which requires employees to contact the employer to know if they are to work a scheduled shift. Companies using this scheduling method often ask employees to call only one to two hours before a shift would begin, creating an unpredictable work schedule, according to a written statement from Schneiderman’s office.
The inquiry, which was sent to 15 retailers in April 2016, said the nature of on-call scheduling negatively impacts workers. Employees at these retailers may have difficulty making arrangements for childcare and elder-care and pursuing higher education, according to the letter. The letter also states employees subjected to on-call scheduling “in general experience higher incidences of adverse health effects, overall stress, and strain on family life” than workers who know their schedule in advance.
“People should not have to keep the day open, arrange for child care, and give up other opportunities without being compensated for their time,” Schneiderman said in a written statement.
Nearly 50,000 employees of the six retailers nationwide will be affected by the agreement.
“We are especially glad that employers like Disney and Carter’s, whose brands promote putting families first, will stop using on-call shifts that are notorious for wreaking havoc on families’ balance and puts undue stress on children,” Carrie Gleason, director of the Fair Workweek Initiative at the Center for Popular Democracy, said in a written statement.
Of the 15 retailers that received the inquiry letter regarding on-call shift scheduling, nine said they did not use on-call scheduling or had recently ceased doing so.
Employers in New York State are required to pay any employee who is either called into work or requests to work same-day to be scheduled “for at least four hours, or the amount of hours in a regularly scheduled shift, whichever is less, at the basic minimum hourly wage.”
Schneiderman sent a similar letter of inquiry in 2015 requesting retailers to end on-call scheduling. Of those, Abercrombie & Fitch, Gap, J. Crew, Urban Outfitters, Pier 1 Imports, and L Brands – the parent company of Bath & Body Works and Victoria’s Secret – were among the companies who agreed to end on-call scheduling.
By Jenna Macri
Source
Here Are the City Policies That Democrats Need to be Talking About
Here Are the City Policies That Democrats Need to be Talking About
This has been an incredibly disturbing election year: to a degree unprecedented in our lifetimes, hatred and xenophobia are being marshalled to support a reactionary nationalistic agenda. As...
This has been an incredibly disturbing election year: to a degree unprecedented in our lifetimes, hatred and xenophobia are being marshalled to support a reactionary nationalistic agenda. As leaders of Local Progress, a network of more than 500 progressive elected officials from cities and towns across the country, we stand together in support of a positive vision to make America great: economic inclusion, racial and gender equity, sustainable communities, and good government that serves the public interest.
This week, as Republicans and Democrats gather for their national conventions, Local Progress is releasing a national platform of our own. We adopted the platform on July 9 in Pittsburgh at our Fifth Annual Convening, which was attended by over 100 local elected officials from around the country and hosted by Pittsburgh Mayor Bill Peduto.
Our platform lays out a series of practical and transformational steps that the federal government can take to promote strong, equitable cities. On an array of issues – from affordable housing and environmental protection to workers’ rights and police reform – we’ve identified strategies Congress and the executive branch can take to support, incentivize, and collaborate with local government officials like us who are trying to help our constituents build dignified and secure lives. You can read our full platform here.
With conservatives in control of Congress and a large majority of statehouses, many of the most important policy developments in recent years have come from the local level. In our cities of Minneapolis and New York, for example, we’ve passed paid sick days laws that guarantee workers time off to care for themselves and their loved ones. Earned sick time is a worker rights issue, but it’s also about gender and racial equity, because those previously lacking paid sick days are overwhelmingly women and people of color. Our cities are also confronting the affordable housing crisis with inclusionary housing laws; pushing for reform of our police departments to eliminate discriminatory policing and keep our communities safe; and shifting budget priorities to invest in the infrastructure, programs and services that help all of our constituents thrive.
These city policies have transformed the national discourse. Hillary Clinton’s support for a higher federal minimum wage is a testament to the power of the workers, community-based organizations, and policy advocates who set such a worthy goal and to Sen. Bernie Sanders, who did so much to build momentum for the issue and pull her along. But it’s also a testament to Seattle, San Francisco, Los Angeles, Washington DC, and other cities that have actually passed $15 minimum wages and are shifting the boundaries of mainstream discourse. The members of Local Progress have been at the frontlines of these fights in cities around the country, and we are proud to stand in the trenches with constituents who are working so bravely to build a more just society.
But the fact is that we cannot do it alone. The devastation wrought by the water crisis in Flint brought national attention to a reality being felt across the country: localities are starved of the resources they need to provide crucial services for their residents, particularly for low-income families and communities of color. As public servants, we believe in the power of government to improve the lives of our constituents. However, too often federal and state governments are an obstacle, not an aid, to advancing local policies that address these urgent issues.
In too many states, cities do not receive the financial resources they need to build strong schools, run proper public transit systems, or keep parks clean and safe. And we are often prohibited from passing laws to raise the revenue we need. Beyond financial constraints, many states are preempting cities’ ability to pass common sense regulations: smart gun safety laws, livable wages for workers (a limitation that affects New York City), and a just transition to a clean energy economy.
In short, we need the federal government to help us. Here are a few examples, drawn from our platform, that show how the next Congress and Administration can help city governments make a huge difference in our constituents’ lives:
The Department of Education can double down on investments in community schools that have been proven to reduce inequities, as well as restorative justice programs to help end the school-to-prison pipeline. And it can evaluate for-profit charter schools to determine whether they are exacerbating segregation and adhering to basic standards of accountability.
Congress can support the creation and preservation of affordable housing with a significant expansion of the Section 8 voucher program and public housing, as well as a stronger commitment to programs that prevent homelessness. And the Department of Housing and Urban Development can ensure the distressed mortgages it sells help the community – rather than Wall Street speculators.
The Department of Transportation can partner with cities to strengthen Vision Zero and “complete streets” initiatives that improve access to public transit and prioritize safety, sustainability, and racial and economic equity.
The Department of Labor can collaborate with cities to enforce labor standards and respond to the challenges created by the on-demand economy.
And, of course, the federal government must help eliminate the racially disparate impact of local policing and criminal justice systems. The Department of Justice should strengthen its oversight of local police departments, ensure that special prosecutors conduct investigations of alleged police misconduct, and curtail the transfers of military equipment to local departments. And it should incentivize the creation of alternatives to incarceration such as mental health and addiction services in both states and localities.
More than ever, we need strong cities and strong city leaders. The truth is that, right now, Congress is not working for the American people. Cities are leading the way, and will continue to do so. We hope that next year, with a new Congress and a President committed to inclusion, equity, and shared prosperity, Washington DC will give our nation’s cities the support we need to promote genuine social justice for America.
By RITCHIE TORRES AND LISA BENDER
Source
Philly Council approves bills for ‘Fair Workweek’ and $15/hr wage hike
Philly Council approves bills for ‘Fair Workweek’ and $15/hr wage hike
Philadelphia’s Fair Workweek bill is stronger in some ways than those across the country, but weaker in others, said Rachel Deutsch, an attorney with the Center for Popular Democracy, a main...
Philadelphia’s Fair Workweek bill is stronger in some ways than those across the country, but weaker in others, said Rachel Deutsch, an attorney with the Center for Popular Democracy, a main organizer of the national Fair Workweek movement.
Read the full article here.
Constituents “wake up” GOP Senators at D.C. homes: “Kill the repeal, Don’t kill us”
07.25.17
WASHINGTON D.C. – Dozens of constituents from across the country showed up at GOP senators’...
07.25.17
WASHINGTON D.C. – Dozens of constituents from across the country showed up at GOP senators’ homes on Tuesday morning chanting “kill the repeal, don’t kill us” ahead of a critical Senate vote in the afternoon to repeal the Affordable Care Act (ACA). Please see photos and video of the protest.
Doctors, nurses, and people with grave medical conditions arrived around 7 a.m. at the homes of Republican senators John Boozman (AK) and Rob Portman (OH) to ‘wake them up’ and let them know one more time the importance of healthcare for their families. Carrying signs that read “Wake up America. Save the ACA” and “Our Lives Matter,” demonstrators demanded Sen. Portman stand up for the healthcare of his constituents.
People from Arkansas, many of them members of Arkansas Community Organization, drove from the state to Sen. Boozman’s home to tell their stories in front of his DC home and urge him to vote no on ACA repeal or on the Better Care Reconciliation Act. Healthcare activists and professionals highlighted the callousness of lawmakers who plan to strip at least 22 million people of health care.
Risking arrest for civil disobedience, demonstrators plan to visit the Capitol Hill office of Senate majority leader Mitch McConnell later Tuesday in a last-ditch attempt to keep him from holding a vote that would kill Obamacare in order to pay for tax cuts for the wealthy.
The demonstrations occurred just hours before the GOP Senate is expected to vote to repeal and dismantle the Affordable Care Act - not even what the bill they will voting on contains.
Last week, 170 people were arrested for visiting the offices of every single GOP senator to let them know how their efforts to kill the ACA would affect their lives. Tuesday’s action was led by the Housing Works, Center for Popular Democracy, and CPD affiliates Arkansas Community Organization and Rights and Democracy Vermont.
Today’s protest marked the fifth time CPD and Housing Works have helped concerned citizens travel from their homes across the country to Washington D.C. to confront their elected officials and demand they speak out against efforts to dismantle Obamacare.
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Why Charter Schools Are a Bad Idea: Guest Opinion
AL.com - March 17, 2014, by Rep. Craig Ford - Other than the $700 million hole in the state's General Fund budget, no issue has been more talked about than the charter school bill.
...
AL.com - March 17, 2014, by Rep. Craig Ford - Other than the $700 million hole in the state's General Fund budget, no issue has been more talked about than the charter school bill.
Republicans in the Alabama legislature have made charter schools a part of their legislative agenda, and a priority in this legislative session (which is ironic, given these same Republican legislators campaigned on stopping President Obama's agenda, but President Obama has been one of the strongest advocates for charter schools).
The charter school bill was passed out of the state senate last week, and will most likely be voted on in the state House of Representatives this week.
Because the Republicans hold a Supermajority (nearly 70 percent of legislators in the House of Representatives), they will certainly force this bill through, and it will be up to Gov. Bentley to decide whether to veto the bill.
There is no doubt that something needs to be done in some of our school systems. But charter schools are not the answer, and will not give our children the better quality of education that proponents of charter schools have claimed.
Researchers at Stanford University conducted two studies on charter schools, in which they reviewed test scores from charter schools in 26 states. The results they found undermine the argument that charter schools outperform existing public schools.
In all, only 25 percent of charter schools performed better than traditional public schools in reading, while only 29 percent performed better in math. More troubling is that 19 percent of charters performed worse in reading, while 31 percent performed "significantly worse" in math. The rest performed at the same level as the existing public schools.
So after about two decades of experimenting with charter schools, the test results have proven that charter schools are not likely to give our children a better quality education. In fact, there's a pretty high chance that our children will get a lower quality education at a charter school than they would at the school they are already attending.
Charter schools also have a very real problem with fraud, waste and abuse of tax dollars.
The Center for Popular Democracy and Integrity In Education, both non-profit organizations, released a report that found more than $100 million in fraud, waste and abuse by fraudulent charter operators in just 15 of the 42 states that have charter schools.
Another report conducted by Integrity In Education found that, just in Pennsylvania, charter operators had fraudulently misused more than $30 million!
The authors of Alabama¹s charter school bill have claimed their bill addresses the accountability issues. But it does not.
The charter school bill that came out of the Alabama Senate does not require that ³Education Service Providers² be non-profit organizations. What this means is that, while the organization that applies for the charter might have to report to the state, the companies that it subcontracts to do not and have no accountability to the taxpayers.
The reason charter schools are hotbeds for fraud and waste is because the for-profit companies that provide education services, such as financial and operation management, managing the facilities and even designing the curriculum, are not held accountable.
In fact, in the reports I referenced earlier, government regulators were not the ones who have discovered the fraud in charter schools. The fraud was only discovered by an investigative reporter, or when a whistle blower came forward or someone filed a lawsuit.
The fraud has come in many forms, including charter operators using school funds illegally to buy personal luxuries for themselves and to support their other businesses.
Investigative reporters have also found that education service providers are typically non-compliant with request for information required by law under the Freedom of Information act. The Washington Post reported that, during their own investigation of charter schools, 70 percent of Education Management Organizations refused to respond to the request for a copy of their contract with Charter Operators, while another 10 percent claimed they were not legally required to publicly provide a copy of their contract.
So even if the Alabama legislature passes a provision requiring them to make their contracts and finances publicly available, 80 percent of these organizations have proven that they will ignore the law and refuse to provide the information.
The sad thing is these are not even all the arguments that can be made against charter schools. But these are more than enough to prove that charter schools are a scam, and a bad idea. Yes, something needs to be done in some school systems. But charter schools are not the answer.
Source
Report: NYC Can Raise $1 Billion Through Wall St. Market Power
FOR IMMEDIATE RELEASE:
December 3, 2013
Contact: Tony Perlstein,...
FOR IMMEDIATE RELEASE: December 3, 2013
Contact: Tony Perlstein, Center for Popular Democracy (917) 647-7751, TPerlstein@populardemocracy.org
REPORT: NYC GOVERNMENT CAN RAISE $1B ANNUALLY FOR BUDGET AND CREATE $1 BILLION IN MAIN STREET STIMULUS BY USING $350B WALL STREET MARKET POWER
New York does enough business with Wall Street to renegotiate bad deals
On the heels of a mayoral victory won on the issue of inequality, a new report released today by the Center for Popular Democracy shows that New York City could generate an additional billion dollars annually for the city budget and generate a billion dollars in economic stimulus by effectively using its $350 billion per year in financial market power. The report, “One New York for All of Us: Leveraging New York’s Financial Power to Combat Inequity” shows the city could save as much as $1 billion annually and stimulate the economy by about $1 billion more.
The city’s financial market power comes from the $200.4 billion that the city’s pension funds have invested in Wall Street institutions combined with an additional $150 billion in debt issuance and payments made and received.
“New York City is uniquely positioned to lead the way in holding Wall Street to an appropriate high standard,” said Connie Razza, lead author of the report and Director of Strategic Research Initiatives at the Center for Popular Democracy. “We spend a ton of money with them, and we should use that clout. The city and its related authorities have powerful financial leverage and economic power to demand short, medium and long-term changes from Wall Street that will save money for taxpayers, bring in more revenue for essential city services, and move new investments and new jobs into our neighborhoods and small businesses.”
The report kicks off a week of action to draw attention to the ways Wall Street and big corporations continue to siphon resources away from average New Yorkers and point toward solutions that would help reduce inequality and build economic fairness.
“In 2013, New Yorkers voted for a Mayor committed to addressing the vast inequality in our city, and for a strong plurality of progressive City Council members committed to broader prosperity,” said Michael Kink, Executive Director of the Strong Economy for All Coalition. “In 2014, we’ll start to build a New York that works for all of us. This report maps the way – and tells us to begin by changing the way the city does business with Wall Street.”
“This is our moment,” said Camille Rivera, Executive Director of United NY. “We have the opportunity to make real change in the city and the state, but only if our elected officials know we have their back.”
“One New York for All of Us” highlights concrete solutions to address the imbalance in the city’s relationship with Wall Street. The report details how reforming the city’s relationship with banks could save a minimum of $725 million each year for the city budget, withhold another $300 million in current bank subsidies banks until job-creation commitments are fulfilled, and stimulate the local economy by another $1 billion per year, creating nearly 17,000 jobs.
Key recommendations:
Renegotiate toxic financial deals to save up to $725 million each year. -Use the city’s economic and financial leverage to lower fees and interest rates for new and existing financial services; -Investigate unethical behavior by Wall Street and prosecute fraud to the fullest extent of the law to recover losses; -If Wall Street won’t negotiate in good faith, bring the functions into the city by creating an in-house financial management team and/or a publicly owned city bank. Save money and create jobs by holding banks to firm commitments to the community in return for $300 million each year in city subsidies for banks. Write down underwater mortgages to keep 86,000 families in their homes and stimulate the local economy by as much as $1 billion, creating nearly 17,000 jobs.Key factual findings:
The city and associated entities pay $160 million a year for bad deals with banks. The city, its pension funds, and the MTA pay $563 million in base Wall Street fees each year. New York City and State give banks subsidies worth about $300 million a year, without ensuring that New York City communities will benefit. Because their wages are so low, 39% of bank tellers and their family members rely on at least one public assistance program, at a total government cost of $112 million. During the past 5 years, foreclosures have cost New York City $1.9 billion in expenses and lost revenue.“Due to the bank-induced mortgage craze and crisis, 20% of New York homeowners owe more on their homes than the homes are worth,” explains New York Communities for Change Executive Director Jonathan Westin. “By adjusting bank-inflated mortgages down to fair market value, we could stimulate the local economy by as much as $1 billion and create 17,000 new jobs. It’s good for homeowners, good for communities, good for the city, and even good for banks – whose risk of defaults would drop dramatically.”
“This report highlights the power that our city has to take a stand to improve income inequality. The Great Recession has not eased for most New Yorkers. We have lost good jobs, and the remaining jobs have actually deteriorated. In banking itself, this is shockingly true,” said Deborah Axt, Make the Road New York’s Co-Executive Director. “Frontline bank workers report less pay, inadequate healthcare, and more work with less staff. A full 32% of surveyed bank workers even report working overtime without pay. It is a tragic moment in New York City history when we learn that the wealthiest and most powerful corporations in our nation, perhaps the world, seem to be committing wage theft.”
ABOUT NEW DAY NEW YORK COALITION
The New Day New York Coalition is a new coalition made up of community groups, faith organizations, labor unions, and veterans of Occupy Wall Street working for years on issues of economic fairness – united to organize a week of actions demonstrating that the vision and policy principles New Yorkers voted for in the past election have popular support and practical pathways forward.
The coalition includes Center for Popular Democracy; United NY; Strong Economy for All Coalition; ALIGN NY; New York Communities for Change; Make the Road NY; Alliance for Quality Education; Coalition for Educational Justice; Walmart Free New York; Coalition for the Homeless; Food and Water Watch; NY Citizen Action; Met Council on Housing; Community Voices Heard; United Federation of Teachers; Professional Staff Congress; Retail, Wholesale and Department Store Union (UFCW); Communication Workers of America Transport Workers Union Local 100; New York State Nurses Association; Service Employees International Union 1199 – United Healthcare Workers East; Service Employees International Union 32BJ; Alternative Banking; Not An Alternative; Beautiful Trouble; 99 Pickets; MoveOn NY; and others.
“Llevaron a cabo vigilia contra Trump por el huracán María”
Los oradores incluyeron a Jaime Contreras , vicepresidente del sindicato 32BJ , Mary Cathryn Ricker , vicepresidenta ejecutiva de la Federación de Maestros de EE.UU. , Jordan Haedtler , director...
Los oradores incluyeron a Jaime Contreras , vicepresidente del sindicato 32BJ , Mary Cathryn Ricker , vicepresidenta ejecutiva de la Federación de Maestros de EE.UU. , Jordan Haedtler , director de campaña del Centro para la Democracia Popular, y Tatiana Matta , puertorriqueña que aspira al Congreso por el distrito 23 de California.
Lea el artículo completo aquí.
2 months ago
2 months ago