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Eligible Americans to Receive $500 Monthly Payments for the Next 3 Years; Here’s What You Need to Know

Ann Arbor, Michigan Might Distribute $500 Payments for the Next 3 Years (Photo: WEMU)

As most of the COVID-19 program aids have ended and the fourth stimulus check is unlikely to be distributed, several states have already started their initiatives to assist struggling families and individuals amid the COVID-19 pandemic. New Golden State Stimulus payments are being sent to qualified households in California, with each receiving $600 in compensation.

A city in the United States is also proposing one of the most revolutionary initiatives; a three-year stimulus check program that would provide selected families with $500 monthly payments. This new stimulus payment will be based on location to determine the size and frequency of the cost, BGR news reported. 

Once Approved, Eligible Families in Ann Arbor, Michigan Will Receive $500 Monthly Payments for the Next Three Years (Edward Pevos/MLive)

Ann Arbor to Implement a Major Initiative

Ann Arbor, a city in the U.S. state of Michigan, has begun to evaluate various options on distributing the federal stimulus funding from the $1.9 trillion American Rescue Plan program worth $24 million that was passed earlier this year. One possibility under consideration is to select 100 Ann Arbor families to participate in the universal basic income program who have demonstrated financial necessity.

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The city is currently collaborating with researchers to examine the program’s impact on both the grantees and the city as a whole. According to John Fournier, Acting City Administrator, the pilot program is modeled after one that was implemented in Stockton, California, based on financial income.

Selected Families to Receive $500 Monthly Payment for Three Years

If approved, the initiative would provide those families with a monthly payment of $500 for three years. Ultimately, the final decision will be executed by the local city council.

The city has only gotten half of the funding; the remaining funds will be distributed next year. Ann Arbor will receive nearly $24 million in stimulus cash through the American Rescue Plan Act, which will be used for social services and ventures, FL1 News reported. By 2026, all funds must be spent.

According to a Los Angeles Times report on the initiative, they were found to be in less anxiety and depression as a result of the program. A similar initiative is also being considered in Chicago.

Related Article: New $1,800 Stimulus Check; Some Americans To Receive $300, Here’s How To Claim Your Payment