Connect with us

Hi, what are you looking for?

California News

Citizens of Sacramento, Qualified for a $500 Basic Income Program: Here’s how

Citizens of Sacramento, are Qualified for a $500 Basic Income Program: Here's how
To be one of the 80 households selected for the second iteration of a local guaranteed basic income program, families in the city of Sacramento can now apply. Those who are chosen will get $500 payments every month for a full year, commencing in July 2023. (Photo by https://www.the-sun.com/)

Citizens of Sacramento, are Qualified for a $500 Basic Income Program: Here’s how. To be one of the 80 households selected for the second iteration of a local guaranteed basic income program, families in the city of Sacramento can now apply. Those who are chosen will get $500 payments every month for a full year, commencing in July 2023.

 

COSTS AND BENEFITS OF A UNIVERSAL BASIC INCOME

According to the frequently asked questions section of United Way, the funding for the payments comes from the American Rescue Plan Act of 2021 (ARPA), federal legislation that was created in response to the COVID-19 epidemic. (Photo by https://easttennessean.com/)

 

Chosen participants will receive monthly payments of $500, no strings attached, for 12 months starting in July 2023.

According to the frequently asked questions section of United Way, the funding for the payments comes from the American Rescue Plan Act of 2021 (ARPA), federal legislation that was created in response to the COVID-19 epidemic.

 

Read More: Redding California Father Arrested On Child Pornography Charges

5000 Equifax Settlement Checks Bounced: Here’s What You Need To Know

 

Candidates must be residents of the City of Sacramento and satisfy the standards for household income. The deadline for the online application is April 14 at 11:59 p.m. By the end of May, qualifying households will be determined at random and verified. In July, payments will begin.

 

Read More: Get Ready For Spring: March 2023 Social Security Benefit Payments Schedule Announced

Oxnard Police Face Scrutiny After Fatally Shooting Man Armed With Steel Bar

 

Here are the requirements to qualify for the $500 Basic Income Program:

You must reside inside the boundaries of Sacramento.

You must make less money each year than a specific threshold. These sums are listed below.

1 adult: $28,205

$49,945 for 1 adult and 1 child.

1 adult and 2 kids: $65,880

3 kids and 1 adult = $79,500

A couple: $43,201

$64,273 for 2 adults and 1 child.

$2 adults and 2 kids = $79,500

$93,120 for 2 adults and 3 children.

6 person family: $106,740

$7-person family: $120,360

8-person family: $133,980

For families with eight or more people, add $14,160 for each extra person.

 

More than 12,000 Californians are getting cash from guaranteed income experiments

Numerous pilot initiatives are being started by state, local, and private sponsors to provide low-income individuals with direct monthly payments to help them meet their basic needs. What follows will be studied by researchers. Will this funding supplement, restructure, or replace existing social programs? (Image courtesy of https://calmatters.org)

 

Successful studies have discovered that participants primarily use the money to meet necessities like food, clothing, and housing. One such study is Stockton’s Economic Empowerment Demonstration. A post-trial research found that Stockton participants were also more likely to be employed, happier, and better able to manage unexpected emergency expenses.

 

New $500 monthly payments available for eligible Americans

For Americans who are receiving financial assistance from state and municipal governments, good news keeps coming in. For eligible recipients of a universal basic income program, new payments are now accessible. (Image courtesy of Mundonow.com)

 

Similar to concerns raised about unemployment compensation, opponents of guaranteed basic income programs have often claimed that they might discourage people from looking for job.

 

Read More: 5 Million Households Struggle With Rent Payments – Expert Tips To Overcome Financial Hardship

Surviving Inflation: 20 Smart Ways To Invest And Manage Your Money

 

In June 2021, United Way began the first basic income program trial in Sacramento. The nonprofit has provided $300 per month to 100 low-income county residents as part of that study and will do so until June of this year.

Copyright © 2022 Pro Claimers. Theme by MVP Themes, powered by The Santa Clarita Valley.