We don’t just need a recovery, we need to reimagine New York City to be affordable, healthy, and safe for all residents. Everyone has been impacted by the COVID-19 pandemic and yet communities of color were hit hardest in terms of deaths, lost jobs and wages, hunger, and more. As of September, Black and Latinx households had much higher rates of food and housing insecurity, and Asian households were experiencing considerable housing insecurity. Nearly a third of households with incomes below $50,000 were food and housing insecure. While some industries have partially recovered, that recovery has not been felt by most people of color. To recover what we love about New York City and fix what has been broken for too many, we must ensure that every New Yorker benefits from recovery.
This is why, as the first plank of my Economic Recovery Plan, I announced New Deal New York, a $10 billion capital investment program that will create 100,000 new jobs to put residents back to work and invest in projects that build a better future of communities. A smart recovery is an equitable recovery and relies on investment in a sustainable economy, not on austerity measures that tell hungry people to simply tighten their belts. With this in mind, my plan will create a 5-year centrally managed $10 billion capital spending program for public works projects. The program will fund much-needed development, infrastructure repairs, and enhancements. The fund would consist of committed unspent capital funds and new capital dollars financed by city debt.
New Deal New York will target investments based on a comprehensive analysis of capital needs across five boroughs, using metrics including racial disparities in income, unemployment, capital need, and city investment over the past decade, to ensure capital dollars are utilized in the most underinvested communities first.
See: https://mayawileyformayor.com/new-deal-new-york/
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