A major US city is preparing to relaunch a multimillion-dollar basic income program that will hand cash directly to residents.

Mayor Brandon Johnson says he is allocating $32 million to reboot the Chicago Resilient Communities pilot, reports CBS News.

The revived program seeks to hand out $500 per month for a period of one year to families experiencing financial struggles.

The mayor says funding will come from the $1.9 billion that the city received from President Biden’s American Rescue Plan Act (ARPA) in 2021.

The city of Chicago is giving the guaranteed income program new life in an effort to distribute the remaining ARPA funds or risk giving it back to the federal government next year.

Chicago Resilient Communities was initially launched by former Mayor Lori Lightfoot in 2022 to help 5,000 low-income households get back on their feet after the pandemic.

The Johnson administration has not yet divulged the qualification details for the rebooted program. Participants of the original pilot were Chicago residents at least 18 years old at time of enrollment, had a family income at or below 250% of the Federal Poverty Line and faced financial difficulties due to the Covid-19 pandemic.

The exact number of families that will receive the $500 monthly payment under the restarted program also remains unknown.

 

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The post Major US City Handing $32,000,000 To Residents As Guaranteed Income Program Reboots appeared first on The Daily Hodl.

A major US city is preparing to relaunch a multimillion-dollar basic income program that will hand cash directly to residents.

Mayor Brandon Johnson says he is allocating $32 million to reboot the Chicago Resilient Communities pilot, reports CBS News.

The revived program seeks to hand out $500 per month for a period of one year to families experiencing financial struggles.

The mayor says funding will come from the $1.9 billion that the city received from President Biden’s American Rescue Plan Act (ARPA) in 2021.

The city of Chicago is giving the guaranteed income program new life in an effort to distribute the remaining ARPA funds or risk giving it back to the federal government next year.

Chicago Resilient Communities was initially launched by former Mayor Lori Lightfoot in 2022 to help 5,000 low-income households get back on their feet after the pandemic.

The Johnson administration has not yet divulged the qualification details for the rebooted program. Participants of the original pilot were Chicago residents at least 18 years old at time of enrollment, had a family income at or below 250% of the Federal Poverty Line and faced financial difficulties due to the Covid-19 pandemic.

The exact number of families that will receive the $500 monthly payment under the restarted program also remains unknown.

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

The post Major US City Handing $32,000,000 To Residents As Guaranteed Income Program Reboots appeared first on The Daily Hodl.