To kick off the new year in style, the city of Alexandria, Virginia, has announced that 170 selected residents will each receive $500 each month for 24 months.
Out of 4,149 people who applied, they are the lucky few who will participate in the city’s guaranteed income trial programme.
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The name, ARISE (which stands for “Alexandria Recurring Income for Success and Equity”), will appeal to enthusiasts of acronyms.
Applicant households have to have an annual income of less than 50% of the area median income and be located in Alexandria to qualify (AMI). It is anticipated that payments will commence in the latter half of January or the first week of February 2023.
The Recipient Selection Process
Out of 4,149 total applicants, the city randomly selected 170 winners through a lottery system. This means that roughly 4 per cent of those who applied received favourable decisions. It’s unfortunate for the other 96%, but this lottery offered much better odds than games like the Lotto or Powerball.
What impact will this program’s income have on taxation and other government assistance?
Participation in the ARISE guaranteed income programme may have an impact on some preexisting benefits. Additional details about the programme are available in the form of a Frequently Asked Questions document.
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If you’re receiving the $500 guaranteed income payout, you’ll be happy to know that you won’t owe any taxes on that money.
In Your Opinion, How Effective Are Programmes That Ensure a Minimum Annual Income?
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It’s clear from the responses to my past pieces that many individuals have strong opinions on these initiatives. What about you? You can opt to leave a comment instead.
When I write about initiatives like these, it’s because they’re one way our culture tries to address the growing problem of people having trouble making ends meet. Can we say that they are the best solution available?
I can’t even begin to guess.
Still, these initiatives are taking place, and some individuals are better off for it; I intend to keep covering them and others like it. Please subscribe to my channel if you’re interested in reading more content like this.