Menu
Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Monthly Stimulus Checks From Alameda: Some Residents To Get $1,000 Per Month


guaranteed basic income programs Monthly stimulus checks from Alameda

Several states and cities are experimenting with guaranteed basic income programs to make sure residents don’t face the same level of hardships that they had to face during the COVD-19 pandemic. The latest city to join the list is Alameda, California, which has approved a guaranteed basic income program to send $1,000 monthly stimulus checks from Alameda. Eligible recipients will get monthly stimulus checks for 24 months.

Monthly Stimulus Checks From Alameda: Who Will Get Them?

Last week, the Alameda City Council approved the guaranteed basic income program in a 3-2 vote. The program will target those most in need. Recipients will be free to spend the money on whatever they want. Under the program, 150 recipients will get the $1,000 monthly stimulus checks from Alameda for 24 months.

Get The Full Henry Singleton Series in PDF

Get the entire 4-part series on Henry Singleton in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues

Q1 2022 hedge fund letters, conferences and more

“During the pandemic we learned that while in many ways we were all in it together, certainly some individuals and groups were impacted more heavily than others,” said Mayor Marilyn Ezzy Ashcraft.

Sending the monthly stimulus checks will cost the city about $4.6 million. The city will use the funds that it got from the American Rescue Plan Act to send the monthly stimulus checks from Alameda. Alameda got $28.68 million from the American Rescue Plan Act 2021.

The authorities estimate that about 11,000 households could qualify for the stimulus checks. Thus, over the next several months, the city staff will decide on the households and income levels that the program will target to select the 150 participants.

In Alameda, a family making less than $106,000 annually, or an individual making less than $74,200 per year is considered to be low income. Also, the authorities will decide on the partners that the city will collaborate with for administering the program.

Other Guaranteed Basic Income Programs

Guaranteed basic income programs have gained popularity over the last few years. Presently, around 100 guaranteed basic income programs are being implemented across the country. Even in California, there are other cities that are experimenting with similar programs, including Oakland, Stockton and San Francisco. Oakland’s guaranteed income program gives $500 per month to 600 families for 18 months.

Stockton’s pilot program, which launched in 2019, is among the best examples of guaranteed basic income programs in the country. The program has helped participants to complete their internships, training or other coursework, as well as pursue full-time employment. When Stockton launched its pilot program, about 28% of the participants were fully employed, but a year later, 40% of the participants were employed.

Mayors for a Guaranteed Income (MGI) is a coalition of mayors that was founded by former Stockton, California mayor Michael Tubbs. Founded in 2020, this coalition of mayors advocate for guaranteed basic income programs across the country. Presently, more than 40 mayors are part of this coalition.

Updated on


Source valuewalk

Like: 0
Share

Comments