In two days, hundreds of recipients of Minneapolis will receive a payment of $500 from the guaranteed income program.
Income program
On June 20, the payment was set and sent to pay hundreds of Minneapolis recipients their monthly income. This program is part of the Minneapolis Guaranteed Basic Income Pilot Program, which began last year in June and is expected to pay the monthly cash expenditures throughout June 2024.
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According to the Washington Examiner, the project manager had told them this program would be processed every 20th day of every month, which would send $500 in income to every participant. To qualify for this program, recipients must be 18 years old by January 1, 2022, and live in one of the zip codes in Minneapolis with an annual income of 50% of the city’s median revenue. Applicants must also have been affected by the COVID-19 pandemic, which requires them to lose a job, have higher expenses for health, or lose access to child care.
As noted by the project manager, the payments are already being assessed by the Federal Reserve Bank. According to the city’s website, the program selected two hundred households. The recipients consist of the majority of Black people, indigenous, or people of color, 80.5%. Other participants are either white or non-Hispanic. Moreover, 69% of the participants were women, and 42.5% were recipients between 30 and 39. Also, around three households will receive the money has only one person in the household.