Economic justice

New York City unveils ‘economic justice plan’ ahead of June 17 celebration

HARLEM, New York (WABC) – The June 17 weekend in New York City begins Friday night with a celebration at St. Nicholas Park in Harlem, but on Thursday Mayor Bill de Blasio unveiled a new economic plan called the “Plan de economic justice of June “. “

“Something very important is happening this week, something that we are all looking forward to, a full celebration of Juneteenth in New York,” he said. “Here is a time to really reflect on history and act on history. It is a day specifically celebrating the emancipation of black slaves in this country. But there really is a lot more needed. It has to be a day for a change. fundamental. “

The plan has three main components.

First, there will be New York City Universal Scholarship accounts for every child in public schools starting in September.

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Second, a CUNY scholarship fund will provide 2,800 four-year scholarships to black and low-income students.

Third, Medgar Evers Collage’s Brooklyn Recovery Corps will provide more than 200 students with paid internships, work experience, and career preparation.

“We want to honor Juneteenth today with actions, with a focus on structural change,” said de Blasio. “The aim of this plan is to build on generational wealth. Juneteenth’s economic justice plan aims to resolve the fundamental issues that have arisen in particular over the past year and that should be raised, actions specifics that we could take right now to have an impact. “

Juneteenth commemorates the end of slavery in the United States. Celebrated each year on June 19, the festival pays homage to the effective end of slavery in 1865.

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Although it is widely believed that black slaves were freed by the Emancipation Proclamation of January 1, 1863, all were not free until almost three years later.

“We know Juneteenth is the perfect time to make an impact because it reminds us of that time in the 1860s, laws changed but reality hasn’t changed,” said de Blasio. “The racial wealth gap continued from that point on, in fact increased. Right now in America, the average wealth of a white family is 10 times that of an average black family. The answer is redistribution, focused, focused efforts to right the wrongs. That’s what we are doing with the Juneteenth Economic Justice Plan. “

For a list of Juneteenth events across town, visit NYC.gov/Juneteenth.

Learn more about NYC Juneteenth’s Economic Justice Plan:

Universal NYC Baby Bonds: Extend NYC Kids Rise to All Public School Children
New York City will directly address the generational racial racial wealth gap by expanding savings plans to every kindergarten student in public schools next year. This initiative will open both accounts and put a minimum of $ 100 in each account.

In 2016, Mayor de Blasio launched a 529 Baby Bonds Education Savings Pilot in Queens School District 30 in partnership with the nonprofit NYC Kids Rise (NYCKR). Children in this district now have more than $ 6 million to spend on their college and vocational training.

Building on the success of the pilot, the Juneteenth Economic Justice Plan is expanding NYCKR through public-private partnerships to all school districts, offering 529 universal savings accounts to every child in public schools, starting in kindergarten. this coming school year. The City will invest $ 15 million per year until 2025. It is estimated that every public dollar will generate 20 to 25 times more philanthropy, family savings, community scholarships and return on investment by the time a child graduates. high school education.

CUNY Scholarship Fund: Over 2,800 four-year CUNY scholarships for black and low-income students
New York City will promote academic and career success for black and low-income students by offering more than 2,800 CUNY ACE four-year scholarships valued at $ 4,000 per year. This $ 45 million investment will help close the gap in financial aid, books, transportation and counseling for eligible students.

The program will serve 1,000 students from Medgar Evers College and 1,800 low-income students in the Taskforce neighborhoods hardest hit by COVID, NYCHA housing estates and other low-income zip codes.

The Brooklyn Recovery Corps at Medgar Evers College: Paid internships, work experience and career preparation for over 200 students per year
Medgar Evers College will launch the Brooklyn Recovery Corps to provide more than 200 students with the opportunity each year to contribute to Brooklyn’s ongoing economic recovery, focusing on experiences that integrate science, business, public health or the green economy.

The annual investments of $ 900,000 ($ 4.5 million over 5 years) will enable scholarship students to acquire technical skills, university credits or paid internships, work experience, career preparation support and community engagement, as well as STEM-focused career placement opportunities.

The Racial Inclusion and Equity Task Force brings an equity-based approach to COVID-19 response and recovery efforts in the city’s hardest-hit communities. Services and supports are tailored to address the unique challenges of New Yorkers in communities of color that have been disproportionately affected by the pandemic. Specifically, the task force made a series of announcements to build generational wealth, including:
– Employee ownership – the way forward for employees to succeed their employers
–New M / WBE requirements, mentoring and matchmaking services
– Fair ownership – requiring at least 25% M / WBE and / or non-profit ownership in affordable housing projects
–NYC Acquisition Fund – $ 210 million loan fund for M / WBEs and nonprofit developers

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