The government of the United States has enhanced its guaranteed income program, which might result in Americans getting $250 every two weeks.
A Guaranteed Income for Hundreds of Americans
This will now apply to 400 people in Newark, New Jersey, who will get $250 payouts for the next two years. Since May, city authorities have been working to expand the program. The first phase, which began earlier this year with a group of 30 residents, Newark’s guaranteed income pilot program is now in its second stanza. According to a statement from the city, the expanded program in Newark will be tested in two ways: half of the people who participate will earn a total of $250 on a fortnightly basis, while the other half would receive two payments of $3,000 per year.
This is equivalent to a total of $12,000 for qualified residents, or $6,000 each year. The increase comes as several cities and states experiment with universal basic income (UBI), a set of periodic payments provided by the government to people.
The Following Requirements for the Payments
The city asked a maximum of 1,200 citizens to apply online in July, in collaboration with the University of Pennsylvania’s Center for Guaranteed Income Research.
The residents were chosen based on the following criteria:
- Ages 18 years and above are allowed to participate.
- Must earn less than or equal to 200 percent of the federal poverty level
- The COVID-19 epidemic must have a negative influence.
The federal poverty limit for a four-person household is $26,20 and after receiving over 1,200 applications, the site shuttered two hours after it was launched. “The Newark Movement for Economic Equity” is the name of the city’s two-year research program that provides people with a guaranteed income.
Moreover, following the two-year term of recurrent payments, the city intends to analyze the data to influence state and federal policy changes. Residents in Newark who were chosen for the trial program may expect to get their cash as well as further information about the program.