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3,250 households in Cook County’s Guaranteed Basic Income Program are Receiving $500 Payments, According to Preckwinkle.

3,250 households in Cook County's Guaranteed Basic Income Program are Receiving $500 Payments, According to Preckwinkle.
(Photo via Colin Boyle/Block Club Chicago)

3,250 homes won a lottery to enroll in the two-year program out of over 233,000 Cook County individuals that requested to be a part of the $42 million initiative.

3,250 households in Cook County's Guaranteed Basic Income Program are Receiving $500 Payments, According to Preckwinkle.

(Photo: https://headtopics.com/)

Posted by Heather Cherone on February 8, 2023 at 11:20 On May 18, 2022, Toni Preckwinkle, president of the Cook County Board, discusses the county’s financial assistance program. The Chicago Resiliency Fund 2 is now accepting applications. Prices for the Plaid and Telsa Model S Land Range stay the same. Although the Model Y Long Range’s price has increased by $1,000 to $54,990 from the original $55,000 ceiling, Tesla customers can now add options to their Model Y without fearing that they will exceed the $55,000 limit thanks to the Treasury’s decision.

The WTTW News According to Toni Preckwinkle, president of the Cook County Board, the country’s biggest experiment to see if a universal basic income can lower poverty is currently ongoing. We appreciate our sponsors. See all the sponsors All 3,250 homes that won a lottery to take part in the two-year experiment received the first of 24 $500 monthly payments by the end of January, according to officials. More than 233,000 Cook County residents registered to be a part of the $42 million initiative.

Wilson, Mark, Getty As part of the city’s coronavirus pandemic relief efforts, domestic workers and residents with undocumented immigration status may be qualified to receive a one-time $500 payment from Chicago. Preckwinkle has promised to make the program, which is supported by federal monies intended to mitigate the economic harm caused by the COVID-19 outbreak, permanent.

“We trust that participants will use this assistance to create a financial foundation for themselves and their families,” she said. But as a result of Treasury adjustments, this is the first time that it is eligible for tax credits. According to information made public by Preckwinkle’s office, 58% of households participating in the program have children, and half of participants had yearly incomes of $21,000 or less.

According to a news release, the one-time $500 payment will be given to about 17,000 persons who identify as domestic workers and undocumented immigrants. For a family of four, the federal government establishes the poverty threshold at $26,500. According to officials, more than half of participants are employed.

Residents of cook county must be at least 18 years old, reside in Chicago, and have a total household income that is at or below 300% of the federal poverty threshold in order to qualify. According to county data, 15% of participants have a disability and nearly one-third of participants had put off receiving medical care because they couldn’t afford it.

Officials reported that 24% of applicants identified as Latino or Hispanic, compared to 51% of participants who claimed to be Black or African American.

A family of three must make $74,580 or less annually. Data show that 83% of participants reside in Cook County’s suburbs. Chicago government officials are also trying a guaranteed income program by giving $500 over the course of a year to 5,000 households. The city wants to connect with Chicago households that missed out on federal stimulus payments that were made available in the wake of the coronavirus pandemic in 2020 and 2021.

To Sum It Up

Officials reported that 24% of applicants identified as Latino or Hispanic, compared to 51% of participants who claimed to be Black or African American. Data show that 83% of participants reside in Cook County’s suburbs. Chicago government officials are also trying a guaranteed income program by giving $500 over the course of a year to 5,000 households. For that program, which started in July, more over 176,000 Chicago residents applied.

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