Speaker Menin on Fair Fares expansion and NYC Kids Rise college savings
Menin announces the largest expansion of Fair Fares in council history, extending eligibility to 200% of the federal poverty level for 1.3 million working New Yorkers. She also announces NYC Kids Rise, providing $1,000 college savings accounts for every public school kindergartner, the largest such program in any city.
We also expanded eligibility for fare fares to residents earning up to 200%
of the federal poverty level, making public transportation more affordable for nearly 1.3 million working New Yorkers, whether they're taking the subway, the bus, or paratransit.
This is the largest expansion of fare fares.
affairs and city council history.
The council is also enhancing NYC Kids Rise to provide a college savings account with $1,000 for every single public school kindergartner in New York City.
This is the largest college savings program that any city has ever done.
It can be used for vocational school.
It can be used for a two-year community college.
It can be used for a four-year college.
And it is truly transformative because studies show that low-income children who have a college savings account are three times more likely to go to ongoing education.
And just as importantly, they are likely to earn almost double the wages, double the wages during the course of their lifetime as someone who does not have that college savings account.
If we truly want to tackle income inequality, this is one of the single best ways we can do so.