A new guaranteed income pilot project is gearing up for launch in Massachusetts.

The Somerville Guaranteed Basic Income Program is a $1.8 million pilot project designed to hand out $750 per month for one year to 200 families who are in danger of losing their homes.

The city is expected to draw funds from President Biden’s American Rescue Plan Act (ARPA), with the first round of monthly payments set to begin in July.

The city says it will proactively reach out to families with a history of housing instability to establish a pool of participants who may qualify for the unconditional cash payment program.

“Guaranteed income programs provide unrestricted cash payments directly to vulnerable residents to create greater financial stability for those most in need.

Somerville’s program goes beyond that general goal; it also specifically aims to support housing stability. The City’s program will serve a group of the city’s lowest-income households who are at risk of losing their housing…

This pilot program will be evaluated for its impact, efficacy, and future feasibility in partnership with the UMass Center for Social Policy and the Collins Center. Outcomes will be shared with the public and will inform future advocacy and any potential initiatives.”

At least 24 states across the US are launching similar programs, with over $200 million allocated to see how direct cash payments can help people and families in need.

 

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The post $1,800,000 Up for Grabs As US City Launches Guaranteed Income Program With ‘Unrestricted Cash Payments’ appeared first on The Daily Hodl.

A new guaranteed income pilot project is gearing up for launch in Massachusetts.

The Somerville Guaranteed Basic Income Program is a $1.8 million pilot project designed to hand out $750 per month for one year to 200 families who are in danger of losing their homes.

The city is expected to draw funds from President Biden’s American Rescue Plan Act (ARPA), with the first round of monthly payments set to begin in July.

The city says it will proactively reach out to families with a history of housing instability to establish a pool of participants who may qualify for the unconditional cash payment program.

“Guaranteed income programs provide unrestricted cash payments directly to vulnerable residents to create greater financial stability for those most in need.

Somerville’s program goes beyond that general goal; it also specifically aims to support housing stability. The City’s program will serve a group of the city’s lowest-income households who are at risk of losing their housing…

This pilot program will be evaluated for its impact, efficacy, and future feasibility in partnership with the UMass Center for Social Policy and the Collins Center. Outcomes will be shared with the public and will inform future advocacy and any potential initiatives.”

At least 24 states across the US are launching similar programs, with over $200 million allocated to see how direct cash payments can help people and families in need.

 

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 loses 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 $1,800,000 Up for Grabs As US City Launches Guaranteed Income Program With ‘Unrestricted Cash Payments’ appeared first on The Daily Hodl.