Brooklyn Borough President Eric Adams recently released a report called Real Recover NYC highlighting steps to save New York City’s economy and to promote racial and economic justice.
The report comes as the city faces a crippling $9 billion budget deficit, a wave of protests motivated by police brutality, and the COVID-19 pandemic.
Adams, a former cop, offered several solutions to crack down on excessive spending and corruption in the NYPD, including “civilianization” of some of its utilities and forensic auditing of police spending.
On the economic front, the report promoted more job training and financial assistance opportunities, local hiring incentives, a data sales tax on large technology companies that would fund wi-fi and information access in NYCHA and at schools, and small business relief.
It also touted Adams’ knowledge of public health issues, proposing a $500 tax return on earned income tax credit (EITC) -qualifying New Yorkers who take certain steps to have a healthier lifestyle, as well as promoting greater access to public healthcare resources.
As for the deficit, Adams suggested budgetary reviews of city agencies, new work-from-home opportunities for city employees who can do so, reducing the city workforce “through attrition by not replacing workers for at least one year, franchising city infrastructure projects, as well as a higher income tax tier for New Yorkers who earn over $10 million annually and a “Pied-a-Terre tax surcharge” on all nonprimary luxury residences worth $5 million or more.
“Bold steps are needed now to rescue the city from a long-term downturn due to the financial crisis. But as we launch our recovery, it is also the City’s responsibility to recover the right way by addressing historical injustices once and for all. It would be unconscionable to rebuild the same shoddy structures that led to so much unnecessary, unequal death and pain. We must rebuild better and fairer,” wrote Adams.
“The goal is daunting, but clear: We must begin to close those gaps as we close our budget deficit. We must heal the physical and financial health of New Yorkers who are underserved and ignored. And we must get started now. This is how we do it without relying on State and Federal help that may never come.”
