San Francisco reparations committee wants to give $5 million to every longtime Black resident
Author of the articleostmedia News
Published Jan 17, 2023 • 1 minute read
San Francisco’s reparations committee wants to give $5 million US to every longtime Black resident of the city, according to reports.
The pricey plan would cost at least $50 billion if only 10,000 people qualified.
To qualify, people need to have identified as Black on public records for at least 10 years and be at least 18 years old. They also must qualify for two of a number of requirements, including having been born in the city or migrated to it between 1940 and 1996 and then lived there for 13 years, according to the Daily Mail.
The proposal will be submitted to Mayor London Breed and the San Francisco Board of Supervisors and the San Francisco Human Rights Commission in June. Board President Aaron Peskin told the San Francisco Chronicle he hopes the proposal will pass.
They were unveiled weeks after the chair of California’s Reparations Task Force claimed the state’s Black residents were owed $1 million each.
The proposal also offers a number of other requirements to be handed out to qualifiers, including the creation of a “comprehensive debt forgiveness program” which would eliminate credit card and other debts, along with student and housing loans, according to the report.
“Black households are more likely to hold costlier, riskier debt, and are more likely to have outstanding student loan debt,” the proposal read. “When this is combined with lower household incomes, it can create an inescapable cycle of debt. Eliminating this debt gives Black households an opportunity to build wealth.”
The proposal also says qualifying low-income households should have their income supplemented to match the city’s median income — $97,000 in 2022 — for the next 250 years.
Slavery was never legal in California.
The proposal was compiled by the San Francisco African American Reparations Advisory Committee (AARAC), which was commissioned by the Board of Supervisors. It was first presented to leadership in December.
Author of the articleostmedia News
Published Jan 17, 2023 • 1 minute read
San Francisco’s reparations committee wants to give $5 million US to every longtime Black resident of the city, according to reports.
The pricey plan would cost at least $50 billion if only 10,000 people qualified.
To qualify, people need to have identified as Black on public records for at least 10 years and be at least 18 years old. They also must qualify for two of a number of requirements, including having been born in the city or migrated to it between 1940 and 1996 and then lived there for 13 years, according to the Daily Mail.
The proposal will be submitted to Mayor London Breed and the San Francisco Board of Supervisors and the San Francisco Human Rights Commission in June. Board President Aaron Peskin told the San Francisco Chronicle he hopes the proposal will pass.
They were unveiled weeks after the chair of California’s Reparations Task Force claimed the state’s Black residents were owed $1 million each.
The proposal also offers a number of other requirements to be handed out to qualifiers, including the creation of a “comprehensive debt forgiveness program” which would eliminate credit card and other debts, along with student and housing loans, according to the report.
“Black households are more likely to hold costlier, riskier debt, and are more likely to have outstanding student loan debt,” the proposal read. “When this is combined with lower household incomes, it can create an inescapable cycle of debt. Eliminating this debt gives Black households an opportunity to build wealth.”
The proposal also says qualifying low-income households should have their income supplemented to match the city’s median income — $97,000 in 2022 — for the next 250 years.
Slavery was never legal in California.
The proposal was compiled by the San Francisco African American Reparations Advisory Committee (AARAC), which was commissioned by the Board of Supervisors. It was first presented to leadership in December.
$5 million for each longtime Black resident? S.F. has a bold reparations plan to consider
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sfchronicle.com
San Fran's reparations committee proposes $5 million per resident
The $5million reparations payments could be given to black residents at least 18 years-old who have lived in San Francisco for at least 13 years. If 10,000 people qualified it would cost at least $50billion.
dailymail.co.uk
San Francisco reparations committee wants to give $5 million to every longtime Black resident
San Francisco's reparations committee wants to give $5 million US to every longtime Black resident of the city, according to reports.
torontosun.com