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Basic Income Programs: Chicago Approves $500 Monthly Payments For Residents, L.A. Rolling Out BIG:LEAP

Los Angeles and Chicago are piloting guaranteed basic income programs that will give low-income citizens with monthly payments for a year. Los Angeles’ program, named BIG:LEAP, would pay $1,000 per month to 3,200 individuals, while Chicago’s plan will provide $500 per month to 5,000 households.

According to NBC News, officials will pick recipients at random. The application period for Los Angeles’ project finished on Friday, while Chicago’s program is still being finalized. Both are scheduled to debut next year.

WASHINGTON, DC – APRIL 29: U.S. President Donald Trump’s name appears on the coronavirus economic assistance checks that were sent to citizens across the country April 29, 2020 in Washington, DC. The initial 88 million payments totaling nearly $158 billion were sent by the Treasury Department last week as most of the country remains under stay-at-home orders due to the COVID-19 pandemic. (Photo by Chip Somodevilla/Getty Images)

Fourth Stimulus Check Update: Chicago $500 Monthly Payments Under Basic Income Program

The municipal council of Chicago has adopted one of the biggest basic income schemes in US history. The city will provide $500 monthly payments to 5,000 low-income families that are qualified for the program for a year.

Lori Lightfoot, the mayor of Chicago, told Insider that she knows what it was like to live check to check as a kid. She added that every dollar counts when a person is in a tight position. During the epidemic, our project attempts to alleviate eligible families of their financial concerns.

Hundreds of thousands of people in Chicago lost their employment as a result of the outbreak. Approximately 18 percent of the local population fell below the poverty limit set by the federal government. Keep in mind, however, that the program has qualifying criteria. These are, according to WTTW:

  • People who are financially negatively affected by COVID-19 at the time of application;
  • Chicago residents who are enrolled in City Colleges or have a dependent: 
    • (a) who is enrolled in Chicago Public Schools or City Colleges, or 
    • (b) who is not yet the minimum age to enter Chicago Public Schools;
  • Must earn less than $35,000 per year and be at or below 300 percent of the federal poverty level; and/or
  • Not employed by the City of Chicago or the State of Illinois, nor are they elected politicians.

ALSO READ: $1,100 Stimulus Checks To Be Distributed This Week After the Passage of Infrastructure Bill

Residents who meet these qualifying conditions are encouraged to apply right away.

Los Angeles: BIG:LEAP To Pay 3,000 Families

Meanwhile, NBC News said the City of Los Angeles is launching a basic income program that will pay thousands of dollars in cash to Los Angeles citizens in poverty and has been impacted by the COVID-19 outbreak.

Basic Income Guaranteed: Los Angeles Economic Assistance Pilot (BIG:LEAP) is a new initiative with a budget of roughly $40 million that will serve 3,000 Angelenos. The 3,000 to 3,200 people will get $1,000 in direct cash payments each month for the next 12 months, with no strings attached.

The number of criteria determine whether or not you are eligible to receive funding. Applicants to the program must meet the following requirements:

  • If you live in the city of Los Angeles;
  • Have at least one dependent child OR be pregnant, have had a medical or economic hardship linked to COVID-19; and 
  • Have an income level at or below the federal poverty line.

A family of four falls below the poverty line with an annual income of $26,500. The 3,000 Los Angeles families who will benefit from the initiative will be randomly picked from the applications received.

RELATED ARTICLE: Stimulus Check Update: Child Tax Credit To Be Extended for Another 1 Year Under ‘Build Back Better’