The panel released a lengthy list of recommendations, another of which was to create a “a comprehensive debt forgiveness program” for black residents to cancel student loans, housing loans, and credit card debt in an effort to give “Black households an opportunity to build wealth.”
A San Francisco advisory committee has recommended paying out hefty reparations to the city’s longtime black residents, including a $5 million payment per qualifying person and a supplemental income to low-income residents for 250 years.
The city’s African American Reparations Advisory Committee released a draft report last month claiming that San Francisco’s “international reputation as a shining progressive gem in the west is undermined by its legacy of mistreatment, violence towards, and targeted racism against Black Americans.”
“While neither San Francisco, nor California, formally adopted the institution of chattel slavery, the values of segregation, white supremacy and systematic repression and exclusion of Black people were legally codified and enforced,” the group wrote.
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