Black residents in San Francisco could receive a life-changing amount of money in the form of reparations if a plan backed by the city's Board of Supervisors gets enacted.
The board voiced support for the city's reparations committee's recommendation to pay eligible Black adult residents $5 million and also recommended eliminating personal debt, tax bills, and instituting guaranteed yearly incomes starting at $97,000 for the next 250 years, according to the Associated Press.
There are estimated less than 50,000 Black residents living in San Francisco, only 6 percent of the current population.
Like other such plans explored around the country to improve Black generational wealth, it received some pushback from the local community.
"Those of my constituents who lost their minds about this proposal, it's not something we're doing or we would do for other people. It's something we would do for our future, for everybody's collective future," said Rafael Mandelman, San Francisco supervisor.
While the board said it was open to the reparations proposal in an effort to atone for slavery and institutionalized racism, some supervisors have said the city cannot afford major reparations payments. Lee E. Ohanian, a professor with Stanford University's Hoover Institution, estimated that the plan could cost non-Black families at least $600,000 per household.
"This conversation we're having in San Francisco is completely unserious. They just threw a number up, there's no analysis," said John Dennis, chair of the San Francisco Republican Party.
The Trump administration has asked an appeals court to remove Lisa Cook from the Federal Reserve’s board of governors by Monday, before the central bank’s next vote on interest rates. Trump sought to fire Cook Aug. 25, but a federal judge ruled late Tuesday that the removal was illegal and reinstated her to the Fed’s board.
President Donald Trump's administration is appealing a ruling blocking him from immediately firing Federal Reserve Gov. Lisa Cook as he seeks more control over the traditionally independent board. The notice of appeal was filed Wednesday, hours after U.S. District Judge Jia Cobb handed down the ruling. The White House insists the Republican president had the right to fire Cook over mortgage fraud allegations involving properties in Michigan and Georgia from before she joined the Fed. Cook's lawsuit denies the allegations and says the firing was unlawful. The case could soon reach the Supreme Court, which has allowed Trump to fire members of other independent agencies but suggested that power has limitations at the Fed.
Chief Justice John Roberts has let President Donald Trump remove a member of the Federal Trade Commission, the latest in a string of high-profile firings allowed for now by the Supreme Court.
President Donald Trump has fired one of two Democratic members of the U.S. Surface Transportation Board to break a 2-2 tie ahead of the board considering the largest railroad merger ever proposed.
The Rev. Al Sharpton is set to lead a protest march on Wall Street to urge corporate America to resist the Trump administration’s campaign to roll back diversity, equity and inclusion initiatives. The New York civil rights leader will join clergy, labor and community leaders Thursday in a demonstration through Manhattan’s Financial District that’s timed with the anniversary of the Civil Rights-era March on Washington in 1963. Sharpton called DEI the “civil rights fight of our generation." He and other Black leaders have called for boycotting American retailers that scaled backed policies and programs aimed at bolstering diversity and reducing discrimination in their ranks.
President Donald Trump's administration last month awarded a $1.2 billion contract to build and operate what's expected to become the nation’s largest immigration detention complex to a tiny Virginia firm with no experience running correction facilities.
Cracker Barrel said late Tuesday it’s returning to its old logo after critics — including President Donald Trump — protested the company’s plan to modernize.
Donald Trump has a message for critics who think turning the U.S. government into a major stockholder of Intel is a “socialist” move: More is coming.
Federal Reserve Gov. Lisa Cook's lawyer says she'll sue President Donald Trump's administration to try to prevent him from firing her. Longtime Washington attorney Abbe Lowell said Tuesday that Trump “has no authority to remove” Cook. If Trump succeeds in removing Cook from the Fed's board of governors, it could erode the Fed’s political independence, which is considered critical to its ability to fight inflation because it enables the Fed to take unpopular steps like raising interest rates. The Republican president said Monday he was removing Cook because of allegations she committed mortgage fraud. Cook was appointed by Democratic President Joe Biden in 2022 and says she won't step down.
Federal Reserve governor Lisa Cook late Wednesday said she wouldn’t leave her post after Trump on social media called on her to resign over an accusation from one his officials that she committed mortgage fraud.
