Speaker Adrienne Adams proposed increasing financing for guaranteed income programs that already exist in New York City and making direct cash distributions to households in her State of the City address.
The point of a guaranteed income is to give people access to unrestricted cash they can use whatever they see fit. Adams’s planned “no strings attached” funding could end up going to a number of other organizations.
This includes single mothers who are struggling to make ends meet. Foster youth and other youth in danger of homelessness could also receive financial assistance.
Up to $1,000 a Month Would Be Given to Those Who Qualify
As part of his strategy to combat poverty, Adams suggests allocating an extra $5 million in guaranteed income, with the guiding principle being “people before everything.” Nonprofits who have already begun implementing guaranteed income programs would receive the financing.
The Bridge Project is one such initiative, and it provides low-income mothers with $500-$1,000 monthly.
In addition to being pregnant or having a kid younger than a year old, women must also reside in a qualifying zip code. The annual income of the household as a whole must be less than $52,000.
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Other possible recipients include Chapin Hall and the Children’s Defense Fund. The mission of Chapin Hall is to avoid juvenile homelessness by providing them with ongoing financial support on a monthly basis.
Adams Presents His Plan for New York’s Development
Adams proposes, among other things, increased financing for guaranteed income programs to help New Yorkers escape poverty.
Also discussed in this video from Fox 5 New York is planning to revamp the city’s pre-kindergarten program, build more affordable housing, encourage entrepreneurship, increase the reach of Fair Fares, and shut down Rikers Island by 2027.
Does the Government Make Effective Use of Its Money by Supporting Guaranteed Income Programs?
That’s a common inquiry that’s come up in the past year as I’ve been writing about guaranteed income plans. How do you feel about this? Are you happy with the city’s decision to invest in these programs, or would you rather see the money spent in another way?
Please share your thoughts with us by leaving a comment below. Please follow me for similar content and rate this article with a thumbs up if you enjoyed it. I appreciate your time and your continued interest and support.
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