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Universal Basic Income: $500 going to 5,000 families

Under a new UBI, or Universal Basic Income program, 5,000 families will be eligible to receive $500 per month.

cash coming from an ATM after universal basic income, or UBI payments are made

The program is in Chicago where the proposed budget was just approved.

Chicago’s Mayor, Lori Lightfoot submitted the proposal.

Finger Lakes Partners (Billboard)

Related: Stimulus payments worth $7,500: How to get them

How to qualify for Chicago’s Universal Basic Income

To qualify, individuals cannot have an income exceeding $35,000 per year.

The recipient or a dependent must be enrolled at City Colleges. They may also have a dependent that is not yet of age.

The qualifying individual must have experienced hardship caused by COVID-19.

There is no application process for the program.

This is Chicago’s first ever UBI program.

Related: Some Americans will qualify for payments worth $250 biweekly for two years, are you eligible?


Other Universal Basic Income programs

Chicago is not the only city trying its hand in UBI programs.

Ten cities in all are testing these programs out in 2022.

Some are offering payments worth as much as $12,000.

DiSanto Propane (Billboard)

Related: 5 ways Americans can collect stimulus payments in 2022

Places that will be offering UBI include Alaska, Pittsburgh, Columbia, Chicago, Los Angeles, New Orleans, Newark, Rochester, Durham, and the state of California.

UBI differs from a stimulus check because it’s a recurring payment.

Stimulus checks are one time payments.

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