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Home » Valentine's Day » One city is giving out $500 in stimulus funds every month for one year

One city is giving out $500 in stimulus funds every month for one year

5,000 families in Chicago will be lucky enough to get $500 stimulus checks every month for one year.

Families that make under $35,000 per year are eligible for a random drawing of 5,000 families to be chosen.

A budget of $35 million was passed in Oct. to help provide aid for the most struggling families.

Related: You may get some cash before Christmas if you’re eligible and live in these cities or states

The families chosen will be part of a pilot Universal Basic Income program that provides families with monthly checks. The cash is to offset the financial strain caused by the pandemic.

Hundreds of thousands of Chicago residents lost their jobs when the pandemic began.

Thought the UBI bill passed, many legislatures were in opposition to it and wanted the funding to go toward anti-violence programs.

Many are doubtful the program will work, especially with data showing Alaskan residents getting universal cash since 1982 only brought unemployment up by 17%.

Related: Some families will see $500 in cash every month for one year

However, data from a program in Stockton California showed unemployment and mental health improved in 125 residents given $500 per month for two years.

Illinois also made a state decision to provide residents making below $75,000 checks worth $200 before the holidays.

Joint filers earning $150,000 would get $400.

Related: Stimulus check: Americans demand additional $2,000 as inflation continues

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