A US City Launches Multi-Million Dollar Basic Income Pilot
A major US city is set to launch a basic income pilot, providing financial support to those facing hardships. St Louis, Missouri will distribute $4.86 million among individuals struggling to overcome financial difficulties. The sign-up process for the program will be open from October 23rd to November 1st.
Eligibility Criteria and Funding Sources
The funds will be given to 540 participants who have a child or dependent under the age of 18 enrolled in a public school. To qualify, households must have a combined income below 170% of the federal poverty level and must have experienced negative financial impacts such as job loss and increased childcare expenses. The primary source of funding will be the American Rescue Plan Act (ARPA), supplemented by an additional $1 million from Jack Dorsey’s Deaconess Foundation.
Basic Income Pilots Across the US
St Louis joins numerous other cities in the US exploring the effectiveness of providing free money to individuals struggling to make ends meet. Ann Arbor, Michigan recently closed its application process, offering $1.2 million to aspiring entrepreneurs, self-employed individuals, small business owners, gig workers, and those with side hustles. In Fairfax County, Virginia, sign-ups just closed for a pilot program that will distribute a total of $2 million to 180 families living below the poverty line.
Hot Take: Testing the Impact of Basic Income Programs
The implementation of basic income pilots in various US cities demonstrates a growing interest in assessing the potential benefits of providing financial support to those in need. These programs aim to alleviate financial hardships caused by factors such as job loss and increased childcare costs. By testing different approaches and evaluating their effectiveness, policymakers can gather valuable insights into the impact of basic income on individuals and communities. These initiatives have the potential to inform future policies and contribute to ongoing discussions about addressing income inequality and ensuring economic stability for all.
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