Universal Basic Income Seeks To Improve Economic Stability in Key US Cities
How do you like the idea of free money? Well, there are four dozen pilot programs in operation around the country right now. Los Angeles has the biggest local governments that are giving people free money. It's got a name called Universal Basic Income. The idea has been around for decades. Alaska has no income tax. Everybody gets a tax refund from the state oil revenues. Andrew Yang made a big deal of it when he ran for president in 2020. Now there's an organization called Mayors for a Guaranteed Income. In Los Angeles, 3200 people who have at least one child with an annual income below the federal poverty level. They get $500 a month for 18 months. San Diego gives $500 a month for two years. In Atlanta, Minneapolis, Denver -they're all doing this as well.
Preliminary research from the University of Tennessee and the University of Pennsylvania shows that families that get this money end up with more stable income. And having this income gives them the time they need to find full-time jobs without running the risk of becoming homeless before getting the money. 28% of these families had full-time jobs, but afterward, 40% of them did. Universal basic income is an idea that is growing in support at the city level, state level and federal level.