- About 5,000 households in the United States will receive monthly guaranteed basic income payments of $500 for a year.
- The Chicago City Council approved a program to alleviate the financial burden of families economically affected by the pandemic.
- Chicago’s Basic Income Program is the largest in the U.S. to date.
About 5,000 U.S. households will receive monthly payments of $500 for a year. The Chicago City Council in Illinois approved a multimillion dollar budget which covers these payments.
Chicago’s pilot program intends to ease the financial burden of families hit hard by the COVID-19 pandemic. It will especially help those who lost their jobs during the first half of the pandemic, the The Sun reported.
What is program’s goal that will issue checks of $500 per month?
Earlier this month, Chicago Mayor Lori Lightfoot said via her official Twitter account: “Growing up, I knew what it felt like to live paycheck to paycheck. When you need it, all the income helps.” Lightfoot aims to help families who have not yet achieved financial stability after the pandemic.
Approximately 18% of the residents in the so-called Windy City are below the federal poverty line. The aid is important and will be sent to eligible residents for a year. However, some Chicago City Council members refused to give the economic boost. They claimed that the money should be spent on violence prevention programs.
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