Try universal basic income now, NY

The novel coronavirus that’s reached pandemic proportions has already seen more than 13,000 U.S. cases, close to 4,000 of them here in New York. Neighboring New Jersey is seeing one of the highest death tolls, with one family hit particularly hard. And in an attempt to curb the spread of the disease despite a late start, social distancing has become the catchphrase most Americans are living by.

All of us staying at home is particularly problematic to those of our neighbors who work in the service industry. In previous times of crisis, New Yorkers have banded together to keep a sense of community together and to help small businesses.

After Hurricane Sandy, communities helped small businesses rebuild. In the wake of 9/11, New Yorkers, refusing to give in to the fear that the terrorists tried to spread, made it a point to go out and live their lives. With everyone trying to avoid spreading the coronavirus, local businesses will be hit a lot harder than they’ve ever been hit before.

On the average waiter’s or hotel employee’s salary, it’s impossible to have a two to three-month safety net saved up, so many workers are out of a job and quickly running out of money.

I’m glad to see the federal and state governments taking steps to ensure that there is some assistance. However, too much of the focus has been on helping businesses, with no-interest loans or interest rates being lowered to help corporations’ bottom lines.

Instead, we’ve got to focus on doing the one thing that we know will help people hit the hardest economically by this crisis: Send them a check of at least $1,000 each month so that they can continue to live. So they can keep their families healthy and safe. So they can make sure their kids’ lives and learning are disrupted as little as possible.

I’m glad this idea has risen to the top of the list in Washington, with even the Trump administration agreeing to the wisdom of direct cash payments. This idea isn’t partisan. The list of supporters includes Sen. Tom Cotton (R), Rep. Tulsi Gabbard (D), Sen. Mitt Romney (R), and New York’s own Rep. Alexandria Ocasio-Cortez (D).

Such an infusion would inject nearly $13 billion per month into the state of New York. Not by moving money into the accounts of banks, but by moving it into the accounts of our friends, our neighbors and ourselves.

This isn’t a time for fighting, and it isn’t a time for half-measures. It isn’t a time to focus on bailing out the banks, or the airlines, or hedge funds. It’s time we bail out the American people. Too many of them are wondering where their next rent payment is coming from. Or whether they’ll have money to feed their kids.

I’ve been in touch with those who are calling for a universal basic income in this time of crisis, and I’ve been trying to convince them that it shouldn’t stop once we’re clear. I’m going to continue to reach out to them and anyone who will listen. I’m going to fight so that the leaders of each city, each state, and even the federal government propose basic incomes to help all Americans navigate this new world we’re living in. And I’m going to continue to publicly call on all of our leaders — from Mayor de Blasio all the way to President Trump — to come together and deliver money, no strings attached, directly to the people.

In the meantime, my organization, Humanity Forward, is proud to team up with the Collective Action Fund, Neighborhood Trust Financial Partners and One Fair Wage to today announce the delivery of over $1 million dollars (in $1,000 increments) to working families in New York and across the country in the coming weeks.

Once America sees what money in our hands can do, I can’t imagine we’ll turn back.

Yang, a businessman, is founder of Humanity Forward and a former Democratic candidate for president.