Andrew Yang

Businessman
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Andrew Yang dropped out of the presidential race on February 11, 2020. This page is no longer being updated.
Yang wants to give Americans a universal basic income of $1,000 a month to address economic inequality. The son of immigrants from Taiwan briefly worked as a lawyer before entering the world of startups.
B.A., Brown University, 1996; Columbia University School of Law, J.D., 1999
January 13, 1975
Evelyn Yang
Protestant
2 sons
Founder, Venture for America, 2011-2017;
Managing director, then CEO, of Manhattan Prep, 2006-2011;
Vice president of a health care startup, 2002-2005

YANG IN THE NEWS

Andrew Yang Fast Facts
Updated 2:16 PM ET, Tue Nov 8, 2022
Here is a look at the life of Andrew Yang, entrepreneur and former 2020 Democratic presidential candidate. Personal Birth date: January 13, 1975 Birth place: Schenectady, New York Birth name: Andrew M. Yang Father: Kei-Hsiung Yang, researcher at IBM and GE Mother: Nancy L. Yang, systems administrator Marriage: Evelyn (Lu) Yang (2011-present) Children: Two sons Education: B.A. in Economics, Brown University, 1996; J.D. Columbia University School of Law, 1999 Religion: Protestant Other Facts His parents are originally from Taiwan. The primary proposal for his political platform was the idea of universal basic income (UBI). This "Freedom Dividend" would have provided every citizen with $1,000 a month, or $12,000 a year. Believes that automation and AI will make millions of jobs obsolete. Yang established Freedom Dividend, a pilot program to push for universal basic income, in which he personally funds monthly cash payments. Is featured in the 2016 documentary, "Generation Startup." His campaign slogan is "MATH," or "Make America Think Harder." His supporters are sometimes referred to as the "Yang Gang." In 1992, he traveled to London as a member of the US National Debate Team. After graduating from Columbia, Yang practiced law for a short time before changing his career focus to start-ups and entrepreneurship. Timeline 2002-2005 - Vice president of a healthcare start-up. 2006-2011 - Managing director, then CEO, of Manhattan Prep, a test-prep company. 2009 - Kaplan buys Manhattan Prep for more than $10 million. September 2011 - Founds Venture for America, a non-profit which connects recent college graduates with start-ups. Leaves the company in 2017. 2012 - Is recognized by President Barack Obama as a "Champion of Change." April 2012 - Ranks No. 27 on Fast Company's list of 100 Most Creative People in Business. February 4, 2014 - His book, "Smart People Should Build Things: How to Restore Our Culture of Achievement, Build a Path for Entrepreneurs, and Create New Jobs in America," is published. May 11, 2015 - Obama names Yang an ambassador for global entrepreneurship. November 6, 2017 - Files FEC paperwork for a 2020 presidential run. February 2, 2018 - Announces his run for president via YouTube and Twitter. April 3, 2018 - His book, "The War on Normal People," is published. March 2019 - Yang explores the possibility of using a 3D hologram to be able to campaign remotely in two or three places at once. January 4, 2020 - Launches a write-in campaign for the Ohio Democratic primary in March of 2020 after failing to fully comply with the state's ballot access laws. February 11, 2020 - In New Hampshire, Yang suspends his presidential campaign. February 19, 2020 - CNN announces that Yang will be joining the network as a political commentator. March 5, 2020 - Launches Humanity Forward, a nonprofit group that will "endorse and provide resources to political candidates who embrace Universal Basic Income, human-centered capitalism and other aligned policies at every level," according to its website. Yang also announces that he will launch a podcast in which he will "discuss new ideas to solve the greatest challenges of our time with" notable guests and "regular Americans" alike. December 23, 2020 - Files paperwork to participate in New York's 2021 mayoral race, according to city records. January 13, 2021 - Yang announces his candidacy for New York City mayor. June 22, 2021 - Yang concedes the New York City mayoral race. In a speech he tells supporters "I am not going to be the mayor of New York City based on the numbers coming in tonight." October 4, 2021 - Yang announces in a blog post that he is "breaking up" with the Democratic Party and has registered as an independent July 27, 2022 - Yang, along with former New Jersey Gov. Christine Todd Whitman, and a group of former Republican and Democratic officials form a new political party called Forward. "Political extremism is ripping our nation apart, and the two major parties have failed to remedy the crisis," David Jolly, Whitman and Yang write in a Washington Post op-ed.
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STANCES ON THE ISSUES

climate crisis
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Yang supports the vision outlined in the Green New Deal, the broad plan to address renewable-energy infrastructure and climate change proposed by Rep. Alexandria Ocasio-Cortez of New York, though he’s expressed skepticism about how quickly its goals could be achieved. He released a plan in August 2019 calling on the US to be a global leader on an issue that is “destabilizing the world.” His plan calls for the US to “move our people to higher ground” while investing in research on removing carbon from the atmosphere and expanding the sustainable energy sector. Yang also proposes passing a constitutional amendment “that creates a duty on the federal and state governments to be stewards for the environment.” He has said he would ensure the US participates in the Paris climate agreement – a landmark 2015 deal on global warming targets that Trump has pledged to abandon – but argues that the agreement should do more to curb climate change. More on Yang’s climate crisis policy
economy
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Yang’s central focus has been his push for a universal basic income, which he has dubbed “the Freedom Dividend.” His plan would provide $1,000 a month for American citizens 18 and older, to be paid for by a value-added tax – which is harder for companies or individuals to avoid than traditional corporate and income taxes, Yang argues. He has also promised new government positions and agencies – including a Department of Technology based in Silicon Valley – to address industrial automation and the spread of artificial intelligence. “The goal should not be to save jobs,” he told CNN in April 2019. “The goal should be to make our lives better.” More on Yang’s economic policy
education
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Yang opposes making four-year colleges tuition-free, a step he argues would benefit too few people. Instead, he proposes investing in vocational training, including by making community colleges free or nearly free. To reduce student debt, Yang says, he would immediately lower interest rates on government-backed loans. He would also support various debt forgiveness measures, and backs closing colleges with low employment rates for graduates and “high loan default rates,” according to his campaign’s website. More on Yang’s education policy
gun violence
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Yang would work to establish a three-tiered, federally mandated gun licensing system. Each tier would expand the type of firearms an individual would be able to purchase or own. He would also create a voluntary gun buyback program, increase funding for the National Suicide Prevention Lifeline and US Department of Veterans Affairs suicide prevention efforts and invest in “a more robust mental health infrastructure,” according to his campaign website. More on Yang’s gun violence policy
healthcare
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Yang advocates universal, government-backed health care, though he wouldn’t outlaw private insurance. He also favors having the government set prices for medical services. He supports lowering drug prices by allowing Medicare to negotiate with drug companies, as well as by having the government manufacture generic drugs. More on Yang’s health care policy
immigration
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Yang wants to expand visa programs to attract skilled workers and retain graduates of US colleges, including granting automatic green cards to all students who earn graduate degrees from US universities. He supports a pathway to citizenship for undocumented immigrants, particularly young adults brought to the US as children, as part of a comprehensive immigration overhaul. He would also create a new category with an 18-year path to citizenship for those who have paid taxes and not been convicted of any felonies. More on Yang’s immigration policy

LATEST POLITICAL NEWS

Larry Summers: More likely the Fed can pull off a soft landing, but don't get hopes up
Updated 11:32 AM ET, Sun Feb 5, 2023
After a shocking jobs report, Larry Summers, treasury secretary under Bill Clinton, said he is more encouraged the Fed can pull off a soft landing, but cautioned it is a "big mistake" to think the economy is "out of the woods" on Fareed Zakaria GPS Sunday. Friday's job's report saw an astonishing 517,000 jobs added in January and unemployment tick down to 3.4%, the lowest since 1969. Economists had predicted 185,000 jobs, expecting a slower jobs market after almost a year of aggressive rate hikes from the Federal Reserve. The Fed once hiked interest rates less aggressively this week, reflecting a sense inflation is cooling. It brings up the question: Can the United States pull off a soft landing, bringing down inflation without triggering a recession? Summers said it "looks more possible that we'll have a soft landing than it did a few months ago," but he has continued fears about inflation indicators that have come back to earth, but are still too high for his liking. "They're still unimaginably high from the perspective of two or three years ago, and that getting the rest of the way back to target inflation may still prove to be quite difficult," Summers said. Zakaria asked if triggering a recession was worth it to bring down inflation, if 3 to 3.5% inflation rates could become the norm. Summers said it's a trade-off between short run reductions in unemployment, and permanent changes in inflation. "The benefit we can get from pushing unemployment low is on almost all economic theories and likely not to be a permanent one," Summers said. "But if we push inflation up and those issues become entrenched, we're going to live with that inflation for a long time." The US has about 3 million people who have just stopped looking for work. Summers attributed it to older people who decided to retire earlier than normal patterns would suggest during COVID. He said there is a "grand reassessment" of the workplace post-COVID. "You don't get to be a CEO if you don't love being in the office," Summers said. "And so CEOs want all their people to come back and be working, but lots of people like their dens better than they like their cubicles." Summers also had advice for President Joe Biden as a debt ceiling crisis brews in Washington. "I would advise him that it's not a viable strategy for the country to default on obligations," Summers said. "That's the stuff of banana republics, and that he's not going to engage in any of that stuff." The United States has an "utterly bizarre system" where Congress votes on budgets and then separately has to authorize paying the bills incurred by those budgets, Zakaria pointed out, adding a crisis could be on the horizon because House Republicans don't want to pay the bills until President Biden agrees to spending cuts, even though budgets were set by both parties. Biden should insist "Congress do its job and approve the borrowing to finance the spending." Summers noted it only takes a few responsible Republicans to raise the debt limit. "That some in the Republican Party may bow to the demands of the extremists does not mean that the President of the United States should do that."
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