How Janet Yellen Is Embracing The Fed’s Role In Racial Justice
How Janet Yellen Is Embracing The Fed’s Role In Racial Justice
Oh, what a difference a year can make. Last July, Federal Reserve chairwoman Janet Yellen endured criticism for House...
Oh, what a difference a year can make.
Last July, Federal Reserve chairwoman Janet Yellen endured criticism for House testimony in which she seemed to imply that there was little the Fed could do to address the disproportionately high African-American unemployment rate.
Not so on Tuesday. In her semi-annual testimony to the Senate Banking Committee, Yellen emphasized that the failure of the economic recovery to reach communities of color influences the Fed’s decision-making, and made a strong commitment to improving diversity at the central bank.
“Jobless rates have declined for all major demographic groups, including for African Americans and Hispanics,” Yellen said, according to her prepared remarks. “Despite these declines, however, it is troubling that unemployment rates for these minority groups remain higher than for the nation overall, and that the annual income of the median African-American household is still well below the median income of other U.S. households.”
Yellen’s policy argument has not fundamentally changed. It is the Fed’s job to maximize employment in the economy as the whole, she says, and it lacks the tools to target particular communities. And the Fed chief has clarified since last summer that she takes seriously how the Fed’s adjustment of interest rates can have an especially big impact on African Americans and Latinos, who have higher jobless rates.
But Yellen’s remarks and actions on Tuesday represent the Fed’s greatest demonstration yet that it is putting the concerns of communities of color front and center on its agenda.
The Fed Up campaign, a coalition of progressive groups that has led the push to make the Federal Reserve more responsive to workers in general, and communities of color in particular, was pleased with the focus of Yellen’s testimony.
“Each time since Yellen spoke last July, when she got pushback over what she said, she has gotten a little bit better,” said Jordan Haedtler, Fed Up’s campaign manager. “Now she is proactively showing that the Fed is assessing this data and does take this data into account.”
Diversity is an extremely important goal and I will do everything I can to further advance it.
This week’s hearings, held every six months in both chambers of Congress — the House will hold its hearing on Wednesday — are an opportunity for the Fed chair to update lawmakers about the overall state of the economy. As part of the briefing, the Fed releases an accompanying monetary policy report summarizing its economic assessment and research.
For the first time, the Fed chose to devote a section of its report to whether the “gains of the economic expansion [have] been widely shared.” That section focused on how the recovery affected different races and ethnicities differently.
The results are discouraging. Despite years of job growth, the rates of full-time work for African Americans and Latinos are a few percentage points lower than they were before the recession, while the rates among white and Asian-American workers have more or less reached pre-recession levels. And the median income of black households, which took the biggest hit of any group during the recession, has also been slower to recover, reaching only 88 percent of what it was in 2007, compared with about 94 percent for the other three groups.
Responding to a question about the new section from Sen. Sherrod Brown (D-Ohio), Yellen insisted that weighing the disparate impact of economic growth on a range of different groups is a key part of the Fed’s mission.
“There are very significant differences in success in the labor market across demographic groups,” she said. “It is important for us to be aware of those differences and to focus on them as we think about monetary policy and the broader work that the Federal Reserve does in the area of community development and trying to make sure that financial services are widely available to those that need it, including low- and moderate-income [households].”
Yellen also recognized the importance of diversity — of race, gender, professional background and ideology — within the Fed’s ranks in ensuring the bank remains sensitive to a broad array of Americans’ economic experiences.
She touted her creation of a task force in the Fed to improve its gender and ethnic diversity, but acknowledged there is more to be done.
“Diversity is an extremely important goal and I will do everything I can to further advance it,” Yellen said.
Progressive groups and their allies in Congress trying to make the Fed more accountable to the public have focused on increasing diversity and reducing Wall Street’s influence at the central bank. Eleven senators, including Elizabeth Warren (D-Mass.) and Bernie Sanders (I-Vt.), and 116 House members sent a letter to Yellen on May 12 urging her to prioritize the diversity of Fed officials, especially at the 12 regional Fed banks, which are privately owned. (Hillary Clinton expressed similar sentiments in a statement later that day.)
The makeup of the regional Fed bank boards is important because they are dominated by the big banks and have free reign to appoint their presidents. The regional Fed bank presidents hold five seats on the Federal Open Market Committee, the central bank panel that adjusts the benchmark interest rate. Currently, regional Fed presidents make up half of the FOMC’s influential votes.
As a result, the Fed officials with the power to raise interest rates and effectively increase unemployment are selected by people who are disproportionately white, male and from the finance and business sectors.
In the interests of changing that, the Fed Up campaign on Monday released a slate of 39 candidates for the regional Federal Reserve bank boards of directors. The candidates not only reflect racial and gender diversity, but also come exclusively from academic institutions, community groups and labor organizations.
“On racial and gender diversity there has been modest progress, though it has not taken place at the rate we would like to see,” Haedtler said. Haedtler added that there is even greater room for improvement when it comes to the diversity of professional backgrounds of board members and other top Fed officials, an area where he said there has been “regression” under Yellen’s watch.
By Daniel Marans
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After minimum wage changes, Bay Area workers push for ‘fair’ scheduling
After minimum wage changes, Bay Area workers push for ‘fair’ scheduling
As cities all over the state have raised their minimum wages in recent years, labor advocates in the Bay Area are...
As cities all over the state have raised their minimum wages in recent years, labor advocates in the Bay Area are turning to what they see as another piece of the puzzle for improving workers’ lives: scheduling.
From ensuring workers get the full-time hours they desire, to preventing retaliation against them for turning down last-minute schedule changes, several initiatives are aimed at making employees’ schedules more stable and reducing underemployment.
“Now, it’s about getting fair wages and fair hours,” said Jennifer Lin, deputy director of the East Bay Alliance for a Sustainable Economy (EBASE).
Business interests have railed against the idea of regulating scheduling across diverse sectors, and warn of unintended consequences that could actually hurt workers looking for additional hours and flexibility in their schedules.
Angie Manetti, director of government affairs for the California Retailers Association, said that has already happened in San Francisco since that city’s Retail Workers Bill of Rights was passed last year. Managers now choose to leave shifts unfilled to avoid penalty pay from scheduling workers on short notice, leaving heavier workloads on the employees who are working, she said.
San Jose’s Opportunity to Work initiative, an ordinance on the ballot Nov. 8, would require businesses there to offer extra hours to part-time employees before hiring more workers.
The initiative would apply to businesses with 35 or more employees but exclude government jobs and allow companies to apply for a “hardship” exemption.
Dilsa Gonzalez, a San Jose resident who has held a variety of positions in the fast food sector there, hopes the measure will support people like her. Gonzalez works 16 hours per week, but she would like to work 40. When she asks supervisors for additional hours, they tell her there is no work available.
“But then they hire other people,” Gonzalez said through a translator. She tries other means of making money, including recycling or helping her husband, a mechanic, work. But in San Jose, it’s “hard to survive with just a few hours of work,” she said.
“There is a crisis of underemployment in Silicon Valley,” said Ben Field, executive officer of the South Bay AFL-CIO Labor Council, which gathered the required signatures to place the measure on the ballot. “It’s symptomatic of a problem across the country in which more and more wage earners are dependent on part-time work as a main source of income.”
Matthew Mahood, CEO of the San Jose Silicon Valley Chamber of Commerce, counters that the San Jose ordinance would “pit workers against each other” for full-time hours rather than creating more jobs and that the ordinance is too far-reaching.
Meanwhile, in the East Bay city of Emeryville, the City Council passed its “Fair Work Week Initiative” last week.
The initiative requires retail and fast food establishments that have more than 56 employees globally to:
• provide employee schedules two weeks in advance of their shifts;
• allow employees to decline schedule changes that happen within seven days of the changed shift;
• offer extra hours to part-time employees before bringing on new ones;
• provide employees with extra pay for taking on shifts on short notice, known as “predictability pay.”
The initiative also would require employers to allow employees to deny back-to-back closing and opening shifts and to request alternate work schedules without retaliation.
Emeryville has often been a trendsetter when it comes to passing worker protection legislation, EBASE’s Lin said. That includes the $14.44-per-hour minimum wage it established last year that at the time was the highest in the nation. She hopes to push the effort throughout the East Bay in the near future.
Moriah Larkins, an Oakland resident who has worked in retail in Emeryville for five years, is among those who say the unpredictability of retail scheduling has made life difficult. As a single mother, Larkins said, taking on last-minute shifts was difficult because child care is not easy to schedule, but she also often did not get scheduled as many hours as she wanted to pay her bills.
She now works at Home Depot, where her schedule is more secure, allowing her to plan better for her family and financially, she said. Home Depot store manager Lionel Stevens said at the City Council meeting that it issues schedules three weeks in advance, and has an open-door policy for employees who need flexibility.
A study commissioned by Emeryville indicates that relatively few workers believe work scheduling has a negative effect on their life. According to the study, 87 percent of employees said they have influence in creating their schedules, and 76 percent said their schedule has never changed with less than 24 hours of notice.
A separate study led by the backers of the Fair Work Week initiative, EBASE, the Alliance of Californians for Community Empowerment and the Center for Public Democracy found different results: that more workers — roughly two-thirds — get their schedule less than a week in advance and want to work more hours.
Many workers believe an ordinance is needed to close any loopholes for businesses who are not scheduling fairly.
Kelby Peeler, a Union City resident who worked at Barnes and Noble for seven years, said he would often be scheduled 30 hours one week and 10 the next, making it impossible to plan financially, and he often lost sleep with late-night closing shifts paired with opening shifts the next day.
“There are definitely good actors — it’s not like every store is having these problems,” Peeler said. “But you can’t have your schedule based on the whim of a manager.”
By ANNIE SCIACCA
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Presentan plan para obtener la ciudanía estatal en NY El proyecto concedería a los indocumentados neoyorquinos gran parte de los derechos que otorga la ciudadanía federal
El Diario - June 16, 2014 by Juan Matossian - Nueva York - Ante la inoperancia del Congreso para aprobar una reforma...
El Diario - June 16, 2014 by Juan Matossian - Nueva York - Ante la inoperancia del Congreso para aprobar una reforma migratoria federal, legisladores neoyorquinos presentaron el lunes una propuesta para conceder la ciudanía estatal a los casi 2.7 millones de indocumentados del estado de Nueva York.
El proyecto de ley “New York is Home” (Nueva York es el hogar) concedería a los indocumentados neoyorquinos gran parte de los derechos que otorga la ciudadanía federal. Entre ellos, la posibilidad de tramitar una licencia para manejar, de obtener licencia profesional para trabajar, solicitar ayudas para estudiar en la universidad, acceder a cuidado de salud a través del Medicaid estatal, o de votar en las elecciones municipales y estatales.
“El estado debe de reconocer las contribuciones que hacen los residentes no ciudadanos que cumplen las reglas, trabajan aquí y pagan sus impuestos”, dijo el senador estatalGustavo Rivera (D-Bronx), que introdujo la medida en la legislatura estatal junto al asambleísta Karim Camara (D–Brooklyn). “La inclusión de los inmigrantes en nuestro sistema político y económico nos beneficiaría, mientras su exclusión nos perjudica a todos”.
Si la ley es aprobada, los indocumentados deberían cumplir una serie de requisitos para ser elegibles para la ciudadanía estatal. Los principales serían tener una prueba de identidad, demostrar que se ha residido al menos tres años en el estado y que se han pagado los impuestos durante ese tiempo, y un compromiso de cumplir las leyes neoyorquinas y la constitución estatal.
Las posibilidades de que la propuesta salga adelante son escasas, después que Albany ha rechazado o ni siquiera ha querido votar medidas menos ambiciosas de ayuda para los inmigrantes, como el DREAM Act o la licencia de manejar para indocumentados. Además, la legislatura estatal cierra su curso legislativo esta misma semana, por lo que la ley no podrá ser votada hasta el otoño.
El otro gran objetivo que persiguen los impulsores de la propuesta, que está respaldada por una gran coalición de organizaciones pro inmigrantes como Make the Road New York o Hispanic Federation, es que otros estados también presenten sus planes paralelos y seguir metiendo presión al Congreso para que vote la reforma migratoria.
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Hold JPMorgan Chase Accountable for Profiting Off Trump’s Attacks on Immigrants
Hold JPMorgan Chase Accountable for Profiting Off Trump’s Attacks on Immigrants
Take Action Now gives you three meaningful actions you can take each week—whatever your schedule. This week, you can...
Take Action Now gives you three meaningful actions you can take each week—whatever your schedule. This week, you can take a picture to support Nissan workers in Mississippi, hold JPMorgan Chase accountable for profiting off-immigrant detention centers, and lobby your members of Congress to think beyond resistance. You can sign up for Take Action Now here.
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Piden expandir ID Municipal a otras ciudades
ciudad de Nueva York quiere que otras urbes de la nación copien el ID Municipal que ha sido un éxito en la Gran...
ciudad de Nueva York quiere que otras urbes de la nación copien el ID Municipal que ha sido un éxito en la Gran Manzana, y por ello este jueves el Centro para la Democracia Popular hizo el lanzamiento oficial de una nueva guía para facilitar la implementación de esa identificación en otras ciudades.
El programa, que comenzó a comienzos de este año, ya ha emitido más de 630,000 identificaciones a neoyorquinos, quienes están disfrutando de una variedad de beneficios.
“Nueva York siempre ha estado a la vanguardia de los derechos de los inmigrantes y constantemente ha empujado el desarrollo por la inclusividad y ha reconocido la contribución que han hecho los inmigrantes a este país”, dijo Shena Elrington, directora de Justicia Racial y de los Derechos de los Inmigrantes, del Centro para la Democracia Popular.
El concejal Carlos Menchaca aseguró que este programa “como habíamos anticipado, ha sido particularmente útil para aquellos que tienen una falta de conexión con los gobiernos en todos los niveles. Para esas personas, esta identificación municipal ha cambiado el juego. Es algo que debe ser imitado por otras ciudades”.
La guía explica detalladamente cómo aprobar una ordenanza municipal para poner la identificación en vigencia, los requisitos que se deben pedir a un solicitante y el tipo de sellos de seguridad que deben llevar las tarjetas de identificación, entre otra información
“Esto es algo que todos necesitamos a nivel nacional. Seamos documentados o no. Tenemos que salir de las sombras, si nosotros lo hacemos aquí, se puede hacer en cualquier otra parte”, dijo Patricia Rivera, miembro de la organización se Hace Camino Nueva York.
Otras ciudades donde se están dando identificaciones municipales incluyen Hartford, Connecticut; Newark, Nueva Jersey; Johnson County, Iowa; Los Angeles, California; Oakland, California; Richmond, Virginia; San Francisco, California. Recientemente en Perth Amboy, NJ, las autoridades anunciaron que estudiarán la posibilidad de otorgar el ID.
Las identificaciones municipales permiten a todos los residentes, independientemente de su condición migratoria, identidad de género u otras características, abrir una cuenta bancaria, cambiar un cheque, identificarse en un hospital, registrar a su hijo en la escuela, solicitar para beneficios públicos, presentar una queja ante el departamento de policía, pedir prestado un libro de una biblioteca, o incluso recoger un paquete de la oficina de correos.
Source: El Diario
Former Fed Adviser, Activists Lay Out a Plan for Change at the Fed
Former Fed Adviser, Activists Lay Out a Plan for Change at the Fed
A former Federal Reserve adviser is joining with an activist group to argue for overhauls at the central bank that they...
A former Federal Reserve adviser is joining with an activist group to argue for overhauls at the central bank that they say would distance it from Wall Street and make its activities more transparent and accountable to the public.
Dartmouth College economics professor Andrew Levin—special adviser to Ben Bernanke and Janet Yellen between 2010 and 2012 when they were Fed chairman and vice chairwoman—is pressing for the overhaul with Fed Up coalition activists.
Dartmouth College economics professor Andrew Levin, special adviser to then Fed Chairman Ben Bernanke between 2010 to 2012, is pressing for the overhaul with Fed Up coalition activists. Many of the proposed changes target the 12 regional Federal Reserve Banks, which are quasi-private and technically owned by commercial banks in their respective districts.
“A lot of people would be stunned to know” the extent to which the Federal Reserve is privately owned, Mr. Levin said. The Fed “should be a fully public institution just like every other central bank” in the developed world, he said in a conference call announcing the plan. He described his proposals as “sensible, pragmatic and nonpartisan.”
The former central bank staffer said he sees his ideas as designed to maintain the virtues the central bank already brings to the table. They aren’t targeted at changing how policy is conducted today. “What’s important here is that reform to the Federal Reserve can last for 100 years, not just the near term,” he said.
That said, what is being sought by Mr. Levin and the activists is significant and would require congressional action. Ady Barkan, who leads the Fed Up campaign, said the Fed’s current structure “is an embarrassment to America” and Fed leaders haven’t been “willing or able” to make changes.
A Federal Reserve spokesman declined to address the proposal.
Mr. Levin wants the 12 regional Fed banks to be brought fully into the government. He also wants the process of selecting new bank presidents—they are key regulators and contributors in setting interest-rate policy—opened up more fully to public input, as well as term limits for Fed officials.
Mr. Levin’s proposal was made in conjunction with the Center for Popular Democracy’s Fed Up coalition, a group that has been pressuring the central bank for more accountability for some time. The left-leaning group has been critical of the structure of the regional banks, and has been pressing the Fed to hold off on raising rates in a bid to make sure the recovery is enjoyed not just by the wealthy, in their view.
The proposal was revealed on a conference call that also included a representative from Bernie Sanders’s presidential campaign, although all campaigns were invited to participate.
Mr. Levin says the members of the regional Fed bank boards of directors, the majority of whom are selected by the private banks with the approval of the Washington-based governors, should be chosen differently. The professor says director slots now reserved for financial professionals regulated by the Fed should be eliminated, and that directors who oversee and advise the regional banks should be selected in a public process involving the Washington governors and local elected officials. These directors also should better represent the diversity of the U.S.
Mr. Levin also wants formal public input into the selection of new bank presidents, with candidates’ names known publicly and a process that allows for public comment in a way that doesn’t now exist. The professor also wants all Fed officials to serve for single seven-year terms, which would give them the needed distance from the political process while eliminating situations where some policy makers stay at the bank for decades. Alan Greenspan, for example, was Fed chairman from 1987 to 2006.
With multiple vacancies in recent years, the selection of regional bank presidents has become a hot-button issue. Currently, the leaders of the New York, Philadelphia, Dallas and Minneapolis Fed banks are helmed by men who formerly worked for or had close connections to investment bank Goldman Sachs.
Mr. Levin called for watchdog agency the Government Accountability Office to annually review and report on Fed operations, including the regional Fed banks. He also wants the regional Fed banks to be covered under the Freedom of Information Act. A regular annual review hopefully would insulate the effort from perceptions of political interference, Mr. Levin said.
By Michael S. Derby
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Trump’s Immigration Policy ‘Fever Dream’
Trump’s Immigration Policy ‘Fever Dream’
“The administration is “creating an environment of profound hostility,” as Ana Maria Archila, the co-executive director...
“The administration is “creating an environment of profound hostility,” as Ana Maria Archila, the co-executive director for the Center for Popular Democracy (CPD), told me. (Archila was one of the women who passionately confronted Senator Jeff Flake in an elevator last week during the Senate hearing on Supreme Court nominee Brett Kavanaugh, shortly before the senator urged an FBI investigation into the sexual-assault allegations.) Together with Make the Road New York (MRNY), CPD published an alarming data brief estimating that if the administration were able to effectively implement its “zero-tolerance” policy—its attempt to prosecute all people who cross the border outside of a port of entry—the number of migrants in private detention centers would rocket from between 290 to 580 percent in the next two years.
Read the full article here.
Activists: US Justice Department Response to Baltimore Police Racism Falls Short
Activists: US Justice Department Response to Baltimore Police Racism Falls Short
The response by the US Department of Justice to exposing Baltimore Police Department (BPD) violations of citizens’...
The response by the US Department of Justice to exposing Baltimore Police Department (BPD) violations of citizens’ constitutional rights falls short of addressing the systemic problem of racism in US policing, activists said.
WASHINGTON (Sputnik) — "[The Department of Justice] is being forced to look like it is responsive, so to speak, but it also can’t deal with the systemic nature of things," Pan-African Community Action activist Netfa Freeman told Sputnik.
On Wednesday, the Justice Department released a report concluding that the BPD systematically engaged in conduct that violates the US Constitution, and disproportionately targets African-Americans. In response, the Justice Department entered into a consent agreement with the BPD to reform the latter.
"We know it is not just Baltimore and it’s not just ‘bad apples’," Freeman said. The report is still "treating things like they are isolated incidents, not like it is a systemic problem or an epidemic," he said of anti-black police misconduct.
In a forum hosted by the Institute for Policy Studies, policy advocate at the Center for Popular Democracy, Marbre Stahly-Butts, said that while it was "important" for the federal government to articulate the problem of police abuses, Justice Department's actions did not go far enough.
An anti-terrorism rehearsal is held targeting a possible bomb attack during the Olympic Games at the main bus station in Rio de Janeiro, Brazil on May 12, 2016
Stahly-Butts argued the Justice Department should leverage the findings of the report to cut off funding to local law enforcement caught violating federal law.
"If we find… that you are violating the basic human rights of people in this city, we, as the government, will not give you taxpayer money to do that," Stahly-Butts said.
The Justice Department report covered police misconduct that took place from January 2010 through May 2015. The investigation was launched in 2015 following the widely publicized death of Freddie Gray, a 25-year-old African-American who died from wounds he sustained while in BPD custody.
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Using Scale and Reach to Battle Inequality
The Hill - November 19, 2013, by Ana Maria Archila - Across the country, it’s become increasingly...
The Hill - November 19, 2013, by Ana Maria Archila - Across the country, it’s become increasingly evident that problems stemming from inequality have reached a level that can only be characterized as a crisis. With the wealth gap between the top .01 percent of households and the rest of us greater than it was in 1928 before the onset of the Great Depression, opportunities for too many Americans are disappearing.
At her confirmation hearing last week to become the next chair of the Federal Reserve, Janet Yellen characterized income inequality as an “extremely difficult and to my mind very worrisome problem.” And while the recent race for Mayor in New York City focused plenty on the wealth gap, it remains to be seen how far a local politician can go to implement the type of policies the nation’s largest city desperately needs.
Of course, there’s no one-size-fits-all approach to restore our democracy to a system that truly gives everyone a chance to thrive. But a large part of the solution will come from dedicated community members partnering with organizations with policy expertise, strategy insights, and coalition coordination experience to achieve meaningful reforms. That’s why this week, the Center for Popular Democracy and the Leadership Center for the Common Good announced a plan to merge on Jan. 1, 2014.
The new organization will be called The Center for Popular Democracy with a sister c4 organization called Action for the Common Good. Together, we will work at the center of emerging new politics, working to build the capacity and resilience of rooted, democratic community organizing institutions. We will share organizing models and strategies with a vast partner network to replicate campaigns and tactics that work to confront racial and economic inequality.
Already,we’ve seen examples of the types of changes motivated, coordinated community efforts can produce. And as new partnerships and increased collaboration online help movement leaders to share best practices – there’s plenty of reason to believe communities can implement changes that make a difference.
In New York, coalitions of community groups, progressive unions, and faith networks cametogether this year to secure a raft of impressive victories, from a raise in the state’s minimum wage, to the adoption of paid sick days’ legislation in New York City to the passage of pro-immigrant language access initiatives in both Nassau and Suffolk Counties on Long Island. And, in the face of fierce opposition from outgoing Mayor Bloomberg, the Center for Popular Democracy and our allies secured passage of new laws to stop the discriminatory policing tactics of the NYPD’s “Stop and Frisk.”
With real roots in the African-American, Latino and immigrant communities, and connections across faith and labor organizations, the Center for Popular Democracy is poised to provide expanded reach and scale on issues from education policy to immigrant and racial justice, voting rights and homeownership.
As AFL-CIO President Richard Trumka recently said, “The new CPD fills animportant void - aggressively innovating and replicating public policies that expand rights and opportunities for workers, for immigrants, and for people of color." That’s part of our belief that just as our communities are stronger together, so are organizers. It’s time to put our strength, scale and reach to work.
Ana Maria Archila is the co-executive director of the new Center for Popular Democracy.
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Arizona Rep. Isela Blanc arrested during DACA protest on National Mall in D.C.
Arizona Rep. Isela Blanc arrested during DACA protest on National Mall in D.C.
A video of the incident posted by the immigrant-advocacy group Living United for Change in Arizona on Facebook shows...
A video of the incident posted by the immigrant-advocacy group Living United for Change in Arizona on Facebook shows Blanc and other demonstrators being arrested after they staged a sit-in, blocking a street on the mall.
Read the full article here.
9 days ago
9 days ago