EXCERPT:
MAMDANI: "Today's announcement has two parts, the preliminary citywide racial equity plan and the inaugural New York City true cost of living measure. Together these reports establish a framework for how our city will both measure affordability and plan for the future. The true cost of living measure confirms what New Yorkers have long known to be true. Too many people cannot afford the city that they love. New York City is home to skyscrapers, million dollar listings, nine dollar lattes, and yet more than three in five New Yorkers, 62 percent, cannot keep up with the cost of living in this city. Despite the incredible wealth of our city, our poverty rate is double that of the national average and it is getting worse year over year. “