The STIMULUS check gave Americans a feel for a universal basic income (UBI) – but people in some states and cities are getting used to the idea.
UBI is a set of periodic payments that individuals receive from the government. These payments can be made monthly, several times a year, or just once annually.
This is an idea that entrepreneurs Andrew Yang, who recently left the Democratic party, is focused on his 2020 Presidential campaign.
Then Mr. Yang, while running for mayor of New York City, came up with the idea of providing the bottom half a million residents with a $2,000 annual payment.
And spoiler alert – he didn’t win.
However, those things were not made to recur.
Instead, they serve a purpose help citizens who need to stimulate the economy by giving them more money to spend during the financial downturn.
While it is unlikely that another stimulus package will be passed at the federal level, some states are still handing out UBIs to their citizens. We list them below.
For a while, Alaska offered checks to its citizens under the Alaska Permanent Fund.
The fund, established in 1982, was established to provide state citizens with a share of the state’s oil revenues.
The sovereign wealth fund pays annual dividends to qualified citizens.
To qualify, you must have been an Alaska resident for at least a year – but you are not eligible if you have been convicted of state felonies or jailed.
This year’s payment went to 643,000 Alaskans, totaling $1,114 each.
The highest payout occurred in 2008 when the payout was $2,069.
Pittsburgh plans to use some of its Covid funds to bail out 200 low-income households.
Specifically, those households will receive payments of $500 a month for two years.
According to Pittsburgh Mayor Bill Peduto, the city will begin paying later this year.
Assuming they receive full payments in 24 months, those would equal $12,000.
There is a similar program in Columbia, South Carolina for fathers in need.
Last month, 100 low-income Columbia dads received a $500 debit card.
They will continue to receive those payments for another 11 months.
Windy City will offer a UBI . program as well as low-income households.
Eligible families earning less than $35,000 per year will receive $500 in monthly payments.
Los Angeles also recently announced a UBI plan for low-income workers.
A total of 3,200 families will receive $1000 in monthly installments for one year.
Eligible families have income at or below the federal poverty level ($26,200 for a family of four).
Teens in New Orleans, Louisiana will begin receiving $350 monthly payments this month as part of state financial literacy program.
The first payment will expire in December and will repeat for 10 months.
To be eligible, you must be between the ages of 16 and 24 and either unemployed or unschooled.
Thanks to Newark, New Jersey expands it”guaranteed income pilot program,“400 residents will be paid over two years.
Payments totaling $12,000 over two years will be made in two ways.
Half of those participating in the program will receive $250 biweekly, while the other 50% will receive two payments of $3,000 annually, according to a city statement.
Program residents are selected after submitting an online application, conducted in partnership with the University of Pennsylvania’s Center for Guaranteed Income Research.
Residents are selected based on the following requirements:
- Must be 18 years or older
- Must have income at or below 200 percent of the federal poverty line
- Having to suffer the adverse effects of the COVID-19 pandemic
Soon, 115 Durham, North Carolina residents already incarcerated will be selected for the city Excel Test Program, will send payments of $500 per month for one year.
Most of the funds for the $700,000 pilot program will be provided by Twitter co-founder Jack Dorsey.
Eligible participants must be 18 years of age or older.
Although there is no job requirement, if you do earn income it should not exceed 60% of the area median income.
In addition, the detention must have taken place within the past five years.
The program will begin in 2022 and continue through January 2023.
You can see if you qualify by filling out pre-screening form.
It’s also worth including California’s stimulus package.
The California Franchise Tax Commission is expected to issue approximately nine million payments under the Golden State Stimulus II.
The state’s office of public affairs told The Sun it will send out another 794,000 checks worth more than $568 million between now and the end of the year.
While, it is unclear whether direct payments will continue after the second round, California is estimated to have $31 in surplus funds next year.
This could signal more stimulus payments to Californians in 2022.
We explain 10 states and cities offer stimulus and other payments before Christmas.
We explain four things you need to know about stimulus payments in 2022 and beyond.
Plus, see how families with kids under 13 can get surprise stimulus payment of $8,000.
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https://www.the-sun.com/money/3913005/universal-basic-income-payments-states-cities/ Nine cities and states offer universal basic income payments of up to $12,000