January
2022
12
NY State of Politics — Advocates on Tuesday began another push to approve a measure creating a regulatory system for public banks in New York state in order to bring more financial institutions to underserved communities.
January
2022
11
Today, 150 organizations from across New York State delivered a letter to state legislative leaders urging swift passage of the “New York Public Banking Act” (S1762A/A5782) to advance racial equity and ensure a just recovery for all New Yorkers.
January
2022
11
Common Dreams — Over 150 advocacy groups from across the Empire State Tuesday sent a letter to New York legislative leaders urging them to follow in the footsteps of places like North Dakota, Germany, and Costa Rica and pass legislation allowing the creation of public banks that would help “advance racial equity and ensure a just recovery for all New Yorkers.”
January
2022
1
Check out the new two-page snapshot highlighting some of New Economy Project’s work, events, and media coverage during 2021!
December
2021
16
Brooklyn Eagle — The city is missing an opportunity to create affordable housing, claims the Abolish the NYC Tax Lien Sale Coalition, making its statement ahead of the city’s tax lien sale this Friday.
December
2021
16
Next City — Marcus is a disabled, 66 year-old Vietnam war veteran. He lives in a house in the East New York neighborhood of Brooklyn that has been in his family since the 1960’s. An only child, he inherited the home when his parents passed, his only piece of generational wealth. But after falling behind on property taxes, the city placed an $11,000 lien on his home. That lien will be sold to a third party, making the debt nearly impossible to pay off.
December
2021
15
Ahead of the City’s tax lien sale this Friday, the Abolish the NYC Tax Lien Sale Coalition released a new analysis revealing the lien sale list includes 392 vacant lots that could support the development of over 3,600 affordable housing units. This represents a recurring missed opportunity for the City to partner with community land trusts (CLTs) to acquire these vacant lots and develop deeply-affordable housing for low-income New Yorkers, the organization said.
December
2021
14
On Tuesday, representatives of community, labor and cooperative groups in the Public Bank NYC coalition were joined by city and state elected officials at a rally on Wall Street to unveil an ambitious legislative agenda to bring public banking to New York in 2022.
November
2021
24
WhoWhatWhy — New York City, once the epicenter of the COVID-19 pandemic in the United States, is bouncing back. Broadway is reopening its doors, international tourists are arriving, and workers are returning to jobs.
But not all the way. According to the New York City Recovery Index, the city is still just about 80 percent “back.” Hotels are still running deficits, office vacancies are at a 30-year high, and small businesses — hundreds of which closed in 2020 and 2021 — are facing long roads to recovery.
November
2021
22
Fresh off his electoral victory, Eric Adams declared that his administration will look abroad for policy solutions to New York City’s myriad social and economic problems. “Let’s learn what they’re doing there so we can do it here,” he urged.
It just so happens, there’s a broad-based citywide coalition pressing for a bold policy solution that is common throughout the world: public banking. Bringing public banking to New York, as a proven strategy for addressing racial and economic inequality, should rank among Mayor-elect Adams’ top priorities.