A California city with 76,000 residents is preparing to hand $3.6 million out to people with no strings attached in a new basic income pilot.<\/p>\n
The signup process is now underway in Alameda, where 150 people will receive $1,000 per month for two years.<\/p>\n
The program<\/a>, called Rise Up Alameda, is designed to test whether routine cash handouts are an effective way to reduce economic instability and fight poverty.<\/p>\n \u201cThe money has no strings attached which means you can spend it on anything you want \u2013 groceries, school, car payments, gas money, and any other personal expenses.\u201d<\/em><\/p>\n The Alameda City Council used a total of $4.6 million from the American Rescue Plan Act to fund the program, and adults with an annual household income at or below 50% of the Area Median Income (AMI) are eligible to apply.<\/p>\n The signup process is set to end on Monday, September 18th at 9:00am.<\/p>\n When the application period is closed, Rise Up Alameda says everyone who meets the criteria will be placed into a randomized lottery to select the final participants.<\/p>\n The pilot program is one of dozens across the US that are set to hand out at least $220 million, according to a recent report<\/a>.<\/p>\n Initial results<\/a> from a $1.8 million basic income trial in Denver found such programs could offer a safety net for people facing financial hardships.<\/p>\n Those participants, who are receiving $600 to $12,000 per year, said they now have lower levels of financial stress while largely using the funds to cover basic needs.<\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>
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