Jack Dorsey Supports Guaranteed Basic Income Pilot in St. Louis
Jack Dorsey, the co-founder of Twitter and CEO of Square Inc., is donating $1 million to kickstart the Guaranteed Basic Income (STL GBI) Pilot Program in St. Louis. The program aims to combat poverty in the city by providing participants with $500 per month for 18 months.
The Launch of the Program
The city of St. Louis announced the launch of the program, which is the first guaranteed basic income initiative in Missouri. In December 2021, Mayor Tishaura Jones signed a bill to establish the program, originally planning to enroll 440 families. However, thanks to Dorsey’s contribution, an additional 100 participants can now join, bringing the total to 540.
Jack Dorsey’s #startsmall philanthropic initiative, with operational support from Deaconess Foundation, is contributing $1 million to add an additional 100 participants to the program for a total of 540 participants.
Eligibility Criteria
To qualify for assistance, applicants must meet specific criteria such as living in St. Louis, having a child or dependent under 18 enrolled in a public school, maintaining a household income below 170% of the federal poverty level, and demonstrating negative financial impacts due to the Covid-19 pandemic.
A Growing Trend
Several U.S. cities have independently started pilot programs to provide basic income for their residents. Mayor Jones stated that St. Louis is joining over 30 municipalities across the country in implementing this new approach to empower families and lift them out of poverty. She expressed gratitude for Jack Dorsey’s support in helping more families make ends meet.
Applicants chosen via lottery will be invited to submit financial documentation and verification of City of St. Louis residency.
Hot Take: Jack Dorsey’s Contribution Empowers St. Louis Families
Jack Dorsey’s $1 million donation to the Guaranteed Basic Income Pilot Program in St. Louis demonstrates his commitment to combating poverty and providing financial support to those in need. With the additional funding, the program can now assist more families, offering them a monthly income for 18 months. This initiative aligns with a growing trend across U.S. cities, as they explore guaranteed basic income programs as a means to empower and uplift their communities.
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