Last June 20,2023, a guaranteed income program worth $500 was sent to o hundreds of recipients in Minneapolis.
In the guaranteed income program, the payments are processed every 20th of the month, and all recipients will receive $500
The guaranteed income program is part of the Minneapolis Basic Income Pilot program. It is expected to pay qualified residents monthly cash payments through June 2024.
Two-hundred households were qualified to receive the guaranteed income program payments and could spend the money on whatever they wanted to pay with.
The applicant for the guaranteed income program must be 18 years old last January 1, 2022, live in Minneapolis, and have a yearly income below 50% of the median income. Moreover, the applicants must be affected by the COVID-19 pandemic by losing a job, having debt because of higher health expenses, or losing entry to childcare benefits.
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The guaranteed income program was evaluated by the Federal Reserve Bank of Minneapolis
The majority of the guaranteed income program receivers are either black, indigenous, or people of color. The other recipients are white or non-Hispanic. Furthermore, 69% of the guaranteed income program’s receivers are women.