Numerous US states have been operating various initiatives to assist individuals with their money as a response to the issue caused by the rising cost of living, which has been well-documented.
They include student loan debt write-offs, tax refunds, and stimulus cheques for certain members of society.
How do UBI Payments work?
The Universal Basic Income (UBI), which is not really a new idea at all, is currently a hot topic. The goal is to give everyone access to long-term cash payments that act as a safety net. Payments are unconditional and may be sent as frequently as monthly.
The cries for guaranteed income are also progressively being heeded by state administrations. California unveiled a state-wide guaranteed income initiative in 2021, which Governor Gavin Newsom approved and which had a 35 million dollar budget for the next five years.
Which states provide schemes for guaranteed income?
A programme to assist single mothers who are raising at least one kid under the age of 18 exists in Birmingham, Alabama. Currently, the first 110 recipients will receive 375 dollars each month for a whole year.
A 12-million-dollar financial aid programme for low-income families was authorised in Phoenix, Arizona.
Many Californian communities, including Los Angeles, Compton, Long Beach, Marin County, Mountain View, Oakland, Santa Clara, San Diego, San Francisco, Sonoma County, and Stockton, are putting plans into effect.
A basic income initiative has been started in Denver, Colorado, with a 5.5 million dollar starting budget. Atlanta, Georgia, and Gainesville, Florida, both have similar strategies in operation.
Plans have been put in place in Illinois.