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.
Rep. John Moolenaar has requested an urgent briefing from the White House after Trump supported a deal giving Americans a majority stake in TikTok.
A new report finds the Department of Government Efficiency’s remaking of the federal workforce has battered the Washington job market and put more households in the metropolitan area in financial distress.
A new poll finds U.S. adults are more likely than they were a year ago to think immigrants in the country legally benefit the economy. That comes as President Donald Trump's administration imposes new restrictions targeting legal pathways into the country. The Associated Press-NORC Center for Public Affairs Research survey finds Americans are more likely than they were in March 2024 to say it’s a “major benefit” that people who come to the U.S. legally contribute to the economy and help American companies get the expertise of skilled workers. At the same time, perceptions of illegal immigration haven’t shifted meaningfully. Americans still see fewer benefits from people who come to the U.S. illegally.
Shares of Tylenol maker Kenvue are bouncing back sharply before the opening bell a day after President Donald Trump promoted unproven and in some cases discredited ties between Tylenol, vaccines and autism. Trump told pregnant women not to use the painkiller around a dozen times during the White House news conference Monday. The drugmaker tumbled 7.5%. Shares have regained most of those losses early Tuesday in premarket trading.
Federal Reserve Chair Jerome Powell on Tuesday signaled a cautious approach to future interest rate cuts, in sharp contrast with other Fed officials who have called for a more urgent approach. In remarks in Providence, Rhode Island, Powell noted that there are risks to both of the Fed’s goals of seeking maximum employment and stable prices. His approach is in sharp contrast to some members of the Fed’s rate-setting committee who are pushing for faster cuts.
President Donald Trump’s efforts to reshape the American media landscape have led to the suspension of late-night comedian Jimmy Kimmel.
