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QUEENS WEEKLY, NOVEMBER 24, 2019
BY JENNA BAGCAL
Imagine a society where “unvalued”
and undervalued work is equitably
compensable and is part of a public
payment system that is circulated
within the community. This is the
ambitious proposal from a pair of lawmakers,
including one from Queens,
and a Cornell professor known as an
“Inclusive Value Ledger.”
On Oct. 13, Assemblyman Ron Kim,
Senator Julia Salazar and Professor
Robert Hockett unveiled the bill known
as the Empire State Inclusive Value
Ledger (IVL) Establishment and Administration
Act, which would allow
for the creation of a public savings and
payments platform for New Yorkers.
Using a “universally trusted” digital
debit-credit ledger system, the IVL
would also allow residents to receive
tax and remittance credits and government
benefits totaling an estimated
$55.7 billion in New York State.
According to the legislators, the
IVL would transform and directly impact
“soft” work including mentoring,
tutoring, environmental preservation
efforts, caring for the elderly and ill
and community service. Often, these
types of jobs are uncompensated or under
compensated and are performed
by women, adolescents, retirees, family
members and neighbors.
The IVL would liquidate $55.7 billion
in public benefits and tax credits
onto a free public platform in the form
of digitized tokens available to all New
Yorkers. These tokens could then be
accessed on a single platform, either
through an app or an e-card for necessities
like groceries, child and adult
care and public transit.
Kim and Salazar emphasized that
the system, often described as a peer-topeer
system, would cut out third-party
financial institutions and accompanying
fees and extractive payments.
Instead, New Yorkers would be able
From left to right: Scott Morris (Qoin Foundation), Assemblyman Ron Kim,
Senator Julia Salazar, Professor Robert Hockett, and Chris Hewitt (Hudson Valley
Current). Photo credit: Scott Morris/Qoin Foundation
to directly transfer currency between
each other.
“I believe that our proposal, the Inclusive
Value Ledger, has the potential
to be truly revolutionary. The creation
of a free public savings and payment
platform that all New Yorkers can use,
not only to pay for goods and services
but also to transfer money directly to
each other through, could fundamentally
reshape New York into a fairer,
healthier, wealthier, and more inclusive
place for all,” said Kim.
IVL partners and supporters who
joined the lawmakers at Wednesday’s
bill unveiling included the Qoin Foundation,
Hudson Valley Current and the
Chinese-American Planning Council.
In addition to the local economic impact,
supporters emphasized the wider
impact as a result of IVL. They asserted
that the IVL could “dramatically accelerate”
value creation and commerce
as the system steadily grew the wealth
and health of residents, businesses and
the community at large. It would also
boost commerce, productive activity
and wealth-generation throughout
New York State. Hockett and the lawmakers
added that the IVL would also
help to execute the Green New Deal.
Established by the Green New Deal
Task Force, the Green New Deal is legislation
that aims to address climate
change as well as economic inequality.
“The Green New Deal challenges
us to design greener money – a payments
system that lets literally everyone
earn, store, and spend value. Our
Inclusive Value Ledger is just that
– a public payment platform and system
of digital wallets for every New
Yorker and every New York business,”
said Hockett. “All valuable work and
all valuable products and services,
including presently unpaid care work
and environmental cleanup, will be
instantly compensable; and all that
is earned will be instantly savable
and spendable. The boost to the state’s
growth and environment will be massive,
precisely because now both its
money and payments systems will be
just.”
Holiday lights coming
to Cross Bay Boulevard
BY BILL PARRY
The Howard Beach community
came together this
year to create “Holiday
Lights on Cross Bay,” a dazzling
display that will illuminate
a long stretch of Cross
Bay Boulevard from 156th
Avenue to 165th Avenue,
infusing the neighborhood
with holiday cheer.
“The last time the community
did holiday lighting
was back in 2005,” Doreen
DeCandia said. “Around
holiday time you see holiday
lights on Bell Boulevard,
Jamaica Avenue and Union
Turnpike and you think,
why shouldn’t we have this
in Howard Beach, too?”
So DeCandia, whose husband
Joe DeCandia owns
Lenny’s Clam Bar and Roma
View Catering Hall in Howard
Beach, joined Kelly Signaselli,
Mary Griffith and
and Camille Adamo formed
a team to make the event
happen. The four women
walked up and down Cross
Bay Boulevard eliciting support
along the commercial
corridor.
“Everyone loved the idea.
More than 60 small businesses,
big businesses, families
and organizations either
pledged or contributed their
support for the holiday light
display. Everyone is very excited,”
DeCandia said. “We
all worked very hard and
those three ladies really put
themselves out there and
they enjoyed every minute.”
Most financial contributions
ranged from $100 to
$1,100 to pay for the decorations
and the cost of installation
and electricity. The
names of each business that
contributed will be posted
on the fence next to the Starbucks
located at 157-41 Cross
Bay Boulevard. DeCandia
noted that Starbucks was
generously donating coffee
to the workers who were
installing the lights.
“This will be ready for
Thanksgiving week but if it’s
ready before that we’ll just
light it up,” DeCandia said.
“That could be as soon as the
weekend. We’re not going to
have a lighting ceremony, we
just want to see how it goes.”
She added that in addition
to the support from Our Lady
of Grace Academy, which
has been an integral part of
the Howard Beach community
for more than 95 years,
the project also had the support
of Councilman Eric Ulrich,
the Queens Chamber of
Commerce and the Kiwanis
Club. It also drew support
from businesses in nearby
Lindenwood, Ozone Park
and other neighborhoods.
“It’s a wonderful way to
make the holiday season
a little brighter and bring
some cheer to the fantastic
neighborhood we call home,”
DeCandia said. “In a time
where our culture and society
is marred by criticism,
skepticism, competition and
negativity, this is a wonderful
way to bring optimism, hope
and positivity to our local
community. After all, that’s
what the holiday season is
all about, and Our Lady of
Grace Catholic Academy is
happy and honored to assist
in bringing those spirits to
Howard Beach.”
Assemblyman proposes public payments
system to add value to ‘unvalued’ work
ASTORIA TIMES ■ BAYSIDE TIMES
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