💸Moneda Moves (37): Today using "illegal alien" could mean a $250K fine in NYC
¿Que tal, mi gente? ☀️
Here's some news hot off the presses, and you can bet it has to do with dinero: New York City is one of the most linguistically diverse cities in the world and with reason -- about 37 percent of residents living here were born outside of the United States. And as of October 3, the city also made its stance known on what it thinks about the terms "illegal alien" or "illegals." Using these terms could now result in fines as high as $250,000.
In a statement, Deputy Mayor Phil Thompson said, "We take immense pride in our city’s diversity and the immigrant communities that call New York City home...This new legal enforcement guidance will help ensure that no New Yorker is discriminated against based on their immigration status or national origin."
If this reminds us of anything, it's a few words from NPR journalist Maria Hinojosa, who said in a MSNBC clip that went viral: "'illegals' is not a noun...what you cannot do is to label a person 'illegal.'"
Now, HInojosa is also lawfully correct in New York City. Time will tell if other states decide to follow suit.
(Credit: AM Joy )
The story referenced today comes from NBC Latino reporter Gwen Aviles.
Onto this week's stories.
Con poder✊🏽,
Lyanne
Keep tabs/cuentas on what's happening at the intersection of Latinx and money.
Latino GDP is the third-fastest growing the world🌎: And that means Latinos could also be key to US economic growth. That's according to a new report by California Lutheran University which made waves earlier this week when it reported that GDP among Latinos reached $2.3 million in 2017. Just in 2010, that figure stood at $1.7 trillion. For some additional context, GDP among all Latinos grew at a faster rate than the U.S. economy in those years. Latino consumption also did exceedingly well in comparison to the rest of the U.S. The story was written by Fred Imbert, journalist (and former colleague!) at CNBC.
Gov. Wanda Vázquez takes the stage in a critical economic time for Puerto Rico🇵🇷: As Vázquez has stepped into position of governor in Puerto Rico, she also takes on a major task on the island: ensuring no further delays of recovery funds in the aftermath of Hurricane Maria. It has been two years since the storm and Puerto Rico has received a third of the $43 billion Congress set aside for hurricane recovery. But billions of those dollars have gone towards companies located on U.S. mainland, despite federal laws advising that firms on the island should be given priority. Now, the governor is making it her mission to cancel what she views as “unreasonable expenses” for rebuilding by companies outside of Puerto Rico. She is also tackling Puerto Rico's Medicaid program which is now running out of federal money and at risk of affecting 1.4 million citizens living below the poverty line on the island. This was reported by Nicole Acevedo for NBC Latino.
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Know the powerful/potentes Latinx and up-and-comers in the money world.
Reinventing how we think about work & money as Latinx💰: Next week, we will be moderating a panel all about being a Latinx up-and-comer and having a conversation all about work/money. I'd love for you to join us! Here's a brief on the discussion, taking place in NYC at the co-working space, Luminary. You can sign up here:
Latinx is not a monolith and when we talk about Latinx entrepreneurs, it shouldn’t be either. At 57 million strong & with $1.7 trillion in buying power, Latinx in the U.S don’t just have a voice, this community has the strength of a nation.
During Hispanic/Latinx Heritage Month join us for our Real Talk Series where creator of Moneda Moves and Nasdaq host Lyanne Alfaro speaks with three entrepreneurial Latinx Luminaries, Ramona Ortega, Maribel Lara, and Yai Vargas about how their distinct experience and culture shaped their relationship with money & work. They will also share about their reinvention and how that led them to where they are today.
A special thank you to founder Cate Luzio, for the invite!
That's all for this notita! If you like what you read, you already know what to do! Our subscription link: tinyletter.com/monedamoves. Hasta la proxima...
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