“Defund the Police” Meaning, Influence on Budgets and Pensions
Today, House Democrats unveiled details of the Justice in Policing Act of 2020 which includes criminal justice reform and efforts to “iron out racial disparities related to education, the economy, health care and the environment,” according to Speaker Nancy Pelosi.
The last 14 days of protests and demonstrations have developed into increasing calls to “defund the police.” While there is no central definition of what it specifically means to “defund the police,” it is likely advocates are seeking more funds be allocated to social-related spending, at the expense of law enforcement.
We cite “defund the police” related examples from Minneapolis, Los Angeles, and New York City. This movement could grow.
- For now, the details [of “defund the police” proposals] we have been reading are not likely to impact overall credit quality, but this influence could grow if changes expand.