Yes emission A pilot program next year will send $350 a month to young residents in the latest universal basic income experiment in a city in the United States.
On Thursday, local officials at Big Easy stated that 125 young people between the ages of 16 and 24 will receive 10 payments of $350 in the spring of 2022. These checks will be deposited into a bank card provided by Mobility Capital Finance (MoCaFi), an online bank owned by black people.
in a Press conference, Mayor LaToya Cantrell described the plan as a way to help “unbanked” Americans in her city while also imparting financial knowledge and skills to young people in the city. Unbanked accounts refer to adults who earn money but do not use bank accounts. This phenomenon is particularly serious in Louisiana, which has one of the highest proportions of unbanked households in the country. Federal Reserve Bank of New York.
“This series of measures will address the racial and rich-poor gaps that we know prevalent in our cities,” said Mayor LaToya Cantrell.
“My government will continue to find innovative ways to provide services and empowerment to our residents, and will ensure that those who do not have a bank account have a bank account and have access to financial education and other resources so that they can meet their basic needs and continue to invest. To myself.”
My government will continue to find innovative ways to provide services and empowerment to our residents, and will ensure that those who do not have bank accounts have bank accounts and have access to financial education and other resources so that they can meet basic needs and continue to invest in Own. _⚜️ https://t.co/AG2GZdgwZ2
— Mayor LaToya Cantrell (@mayorcantrell) November 11, 2021
The program is funded by a grant of $500,000 Mayor Guaranteed IncomeIt is a non-profit organization founded by Michael Tubbs, Mayor of Stockton, California, in June 2020 to advocate direct cash payments as a way to support poor Americans. The plan is also supported by MasterCard, whose North American president Linda Kirkpatrick and Cantrell and MoCaFi CEO Wole Caxum announced the launch last week.
In recent years, municipalities across the United States have become increasingly interested in the universal basic income experiment. last week, Los Angeles and Chicago Both parties announced that they will also launch their own universal basic income plan starting next year. Smaller cities Patterson in New Jersey and Compton in California have also launched their own projects.
During the COVID-19 pandemic, support for the universal basic income plan has also increased. A number of public opinion surveys found that Considerable quantity Of Americans support a plan that will provide monthly payments to families to help meet their needs.
