$4,000,000 in Free Money Up for Grabs As US Cities Launch New Guaranteed Income Programs – The Daily Hodl

A pair of guaranteed income pilot programs are set to hand out $4 million to residents in two US cities with no strings attached.

A new guaranteed income pilot program will allow a group of residents in Boulder, Colorado to collect money for two years.

The city will be allocating $3 million in funds from its American Rescue Plan Act to distribute checks to 200 households.

To qualify, participants must have an income between 30% and 60% of the median income for Boulder, and have been negatively affected by Covid-19 restrictions in some way, such as reduction in wages or income.

Says the City,

“An estimated one in four Boulder households does not have enough income to meet basic needs. This is true even for people who work and receive food, healthcare and housing benefits. COVID-19 and rising costs of living disproportionately affect low-income community members.

Elevate Boulder is the City of Boulder’s guaranteed income pilot project that will provide 200 low-income Boulder households with $500 per month for two years. This assistance is unconditional and unrestricted; that means it can be used how participants choose, and they won’t have to do anything in return.”

Meanwhile, after hailing an initial trial as an overwhelming success, a city in North Carolina is expanding its guaranteed basic income program to hand out an additional $1 million.

The Excel program distributes monthly checks for $600 to qualifying residents in the city of Durham.

The program designed to specifically help formerly incarcerated people who have made their way through the criminal justice system.

And although it’s drawn criticism from other residents of the city, Durham’s Mayor Pro Tempore Mark-Anthony Middleton tells ABC11 that the program is good for the economy.

ABC11 also interviewed Tydricka Lewis, who’s getting back on her feet after spending over six years in prison. Lewis is now working as a peer support specialist for the City of Durham and says the monthly checks have been helping immensely with day-to-day responsibilities.

“It allowed me to get decent transportation for my children and myself…Helps me get back and forth to work. I’m in school and run everyday errands.”

The program is partially funded and organized by the Mayors for Guaranteed Income group, and joins a growing trend of similar plots across the country.

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• Source: https://dailyhodl.com/2023/11/03/4000000-in-free-money-up-for-grabs-as-us-cities-launch-new-guaranteed-income-programs/