A guaranteed income program in Minneapolis will process its next payment to recipients in four days. The payment, which will be sent on May 20, is a part of the Minneapolis Guaranteed Basic Income Pilot.
The payment, which will be sent on May 20, is a part of the Minneapolis Guaranteed Basic Income Pilot, which began in June 2022 and is expected to pay recipients monthly cash payments through June 2024. Two hundred households were selected to receive payments from this program, and they can all spend the $500 payments in whatever way suits them best, according to the city's website.
The program is being evaluated by the Federal Reserve Bank of Minneapolis, according to the project manager. To have been eligible for this program, an applicant had to be 18 years old by Jan. 1, 2022, have an annual income at or below 50% of the area median income for Minneapolis, and live in one of several ZIP codes specified by the program. Additionally, applicants had to have been affected by the coronavirus pandemic. Qualifying impacts from the pandemic include losing a job, having higher health expenses, or losing access to child care.
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