$3,400,000 Will Be Sent To Struggling Families As ‘No Strings Attached’ Income Program Launches on East Coast: Report – Crypto News

A nonprofit is preparing to hand out millions of dollars over the next two years in a new guaranteed basic income program.

New York City-based homeless shelter operator Win has launched a program that aims to assist homeless families with young children, handing out monthly cash payments for two years to help them get out of shelters faster, the Gothamist reports.

Win is the largest family shelter and supportive housing provider in New York City with 450 housing units in its portfolio. The pilot program will start in its central Brooklyn shelters.

Under the program, 100 families will be selected to receive $17,000 a year, distributed in monthly cash payments via debit cards. A family must have a child younger than two years old and be eligible for shelter to qualify.

There are no strings attached to the payments and the families can use the money in any way they see fit. Researchers from Vanderbilt University will document the program’s impact for five years.

Says Christine Quinn, CEO of Win,

“That’s really kind of like the secret sauce – you’re getting this money with no strings attached, but what is attached to it is a statement of belief in you, a statement that we know you’re the quarterback of your family, and you’re going to use this to help your family… That type of commitment, that type of sincerity is rarely bestowed upon homeless mothers.”

The program comes a year after New York was found to have the largest homeless population in the US. The New York Times reported that there were over 100,000 people in shelters in NYC, partially driven by the large influx of migrants.

Earlier this year, a controversial pilot program went live handing out pre-paid credit cards to 500 migrant families.

Each recipient is getting about $350 a month to spend on food and baby supplies, which is more money than low income residents are given through the state’s Supplemental Nutrition Assistance Program (SNAP), reports Newsweek.

Dozens of other guaranteed income programs have launched across the US, designed to test the benefits of giving direct aid to people who are struggling to make ends meet.

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on X, Facebook and Telegram

Surf The Daily Hodl Mix

Generated Image: Midjourney