Can guaranteed monthly payments be enough to lift people out of poverty? The state of California thinks so Via ForbesAdvisor
The guaranteed income program in L.A. County was unanimously approved by the L.A. County Board of Supervisors in late July.
In a motion filed to approve the program, county workers explain how the Covid-19 pandemic exacerbated the economic challenges experienced by the selected group, most of whom are Black and Latinx young adults. They hope the guaranteed income program will help them pursue reliable employment opportunities and achieve financial stability., which provides a minimum of 1,000 residents up to $1,000 per month for three years.
California isn’t the only state embracing guaranteed income for its residents. Alaska currently has the Alaska Permanent Fund, which pays out an annual dividend, usually between $1,000 to $2,000, to residents in the state that’s funded by oil revenues.Direct payments to individuals have been piloted all over the world, including in Canada, Finland, Kenya and China. But the prospects of the United States implementing a universal basic income are grim at best.
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