Andrew Yang Is Betting On A People’s Bank To Help Struggling Low-Income New Yorkers

How to rev up New York City’s economy post-pandemic is a cornerstone theme in the race for mayor, with Democratic candidates touting plans for existing small business owners to stay afloat. Ray McGuire, the former Wall Street executive, seeks to keep mom-and-pop businesses open by subsidizing paychecks for half a million existing small business employees. Kathryn Garcia, the former sanitation commissioner, wants to make grants available to them. And while preserving small businesses is on his agenda, Andrew Yang also wants to help generate their growth through the creation of a “People’s Bank of New York."

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