Like many cities across the country, New York City’s population is getting older. Today, more than 1.1 million adults over 65, nearly 13 percent of the city’s total population, live in the five boroughs, a number which is expected to rise to over 1.4 million by 2040. In response to both this growth and the Trump administration’s budget cuts to beneficial senior programs like Medicaid and Medicare, City Comptroller Scott Stringer released a new report detailing policies that invest in the city’s seniors (h/t Metro NY).
Stringer’s report lays out solutions for the challenges New Yorkers face who are 65 and older. Currently, more than 40 percent of senior-headed households depend on government programs like Social Security for more than half their income. More than 30 percent depend on these programs for three-quarters of their income. Additionally, more seniors benefit from nutrition assistance programs and Supplemental Security Income than the total city’s population. As reported by the
As reported by the WSJ, President Trump has proposed reducing the corporate tax rate to 15 percent from the current 35 percent, which would slow down the completion of affordable housing projects. For example, the Ingersoll Senior Residences in Fort Greene, which are set to provide 145 affordable units for seniors, faces a significant funding gap.
Policy recommendations in the report focus on creating safe affordable housing by automatically enrolling eligible senior renters in the Senior Citizens Rent Increase exemption program, expanding eligibility for the Senior Citizens Homeowners’ Exemption and developing a program for home renovations with senior-safe installations (non-slip showers, wider doors).
In addition to housing, Stringer says the city should increase the number of age-friendly neighborhoods, make investments in senior centers, and improve public transportation systems for seniors by building additional bus shelters and benches. While the report revealed that New York is ranked the 14th best large metro area for seniors overall, the growth rate puts pressure on the city government to make quick and effective investments in NYC seniors.
“We need to act today–not tomorrow,” Stringer said. “Seniors are the anchors of our communities, and we must ensure they have the support they deserve.” Read Comptroller Stringer’s full report here.
[Via Metro NY]
- Senior musicians may lose affordable housing at Bronx Commons
- NYCHA’s open space development plans move ahead with affordable senior housing in the South Bronx
- De Blasio’s 2017 affordable housing plan includes $1.9B for 10,000 new units and Elder Rent Assistance program
Charts via Comptroller Scott Stringer’s office