Americans could benefit from a new guaranteed income program this year.
The automatic payments will be partially funded by the American Rescue Plan.
Save up to $600 dollars a year on your phone bill
Where would the program be available?
Boulder, Colorado plans to launch a new guaranteed income pilot by the end of this year. The city has set aside $250,000 from the American Rescue Plan to help fund the program. In all, the pilot will have a $3 million budget. Officials are still looking for donations from private partnerships. Read more about it here.
There is also an intention to create a task force that will study best practices. The concept of UBI has been growing in popularity, and several cities have implemented their own.
Who qualifies for the payments and how much are they?
Specific qualifications are still being determined. However, there are some targeted groups that they are looking to help:
- Single mothers
- People experiencing homelessness
- People returning from prison
The exact amount of each payment is also still waiting to be determined. It is estimated that eligible clients will get about $500 a month.
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