The city of Chicago is preparing to launch a different kind of stimulus program - one of the biggest basic income efforts in the US.
Basic income pilot program in Chicago
“The pilot will serve as a demonstration of the effectiveness of cash assistance within a broader portfolio of safety net benefits and services, and of city government’s ability to meet residents where they are and support their self-defined path toward financial security,” Chicago’s official city website explains.
As of the time of this writing, the Chicago basic income program is still in the very early stages. We do, however, know at least a few key facts about what it is and how it will work.in April. And participants will be chosen by lottery. Additionally, the plan is part of Chicago Mayor Lori Lightfoot’s $1.2 billion Chicago Recovery Plan. Which itself taps $31.5 million in federal funds from the 2021 American Rescue Plan.
The basic income funds would come with no strings attached for recipients. Meaning, they could use the money however they want. And requirements to participate include the following: Applicants must be at least 18 years old, have experienced economic hardship related to the Covid pandemic, and have a household income at or below 250 percent of the federal poverty level.
From July through December last year, the federal government issued a total of six child tax credit stimulus checks. Most Democrats expected that to continue into 2022. What they didn’t expect was for that effort to collapse in the Senate, where Democrats have a razor-thin margin, because ofSo, we’re now back to a largely stimulus-free US, at least at the national level. Albeit, with one big caveat.
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