II&D Research Cited in L.A. Proposal to Forgive Household Debt
News reports about a Los Angeles City Council member’s proposal to forgive the household debt of Angelenos hit hard by the COVID-19 pandemic cited a report on the risk of widespread evictions compiled by the UCLA Luskin Institute on Inequality and Democracy (II&D). Councilman David Ryu pointed to the research in making a case for the debt relief proposal, which would be funded through the Federal Reserve’s Municipal Liquidity Facility program, part of the federal CARES Act. “If we don’t deal with this crisis now, it will create an avalanche of homelessness and a generation of people buried in debt, and Los Angeles will pay the price for decades to come,” Ryu said. News outlets covering the proposal include the Larchmont Buzz, Los Feliz Ledger and Beverly Press. The II&D report was also recently cited by the Los Angeles Daily News and Pasadena Now.
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