MONEY’S COMING: Americans to get $500 in monthly direct payments for two years thanks to $2.5million pot

In total, the universal basic income program is expected to cost $2.5million and is being led by non-profit organization Mid-Iowa Health Foundation. Chief executive officer Nalo Johnson told Axios roughly $1.8million in funds have been raised. She also said that the monthly direct payments of $500 will launch this year – with the first round of stipends going out in February. While the program will go out to low-income residents, the exact income barriers have not been made available at this time.

Also, it’s unclear if there will be an application process or how participants will be selected. “The pilot seeks to support the economic health of the community by improving the ways in which community members show up in the workforce due to the reduced burdens brought on by the stressors associated with poverty,” a synopsis of the pilot from the council reads. Ms Johnson did not respond to The Sun’s request for comment.

Other UBI programs 

Across the country, dozens of cities and states are offering UBI and conducting studies on how it reduces poverty.

  For example, eligible residents in Mountain View, California, will be able to apply for a $500 UBI program.

The maximum annual income to be eligible is $44,750 in 2021 for a family of three. Applications are expected to open in mid-to-late summer, according to the city. Another program in California is giving 3,200 Los Angeles families $1,000 in monthly installments. They started getting their first payments in January, according to 

Fox 11 Los Angeles

. Also, more than 100 residents in Ithaca, 

New York

, started 

getting

 their first payments of $450 per month in June. To be eligible, you must be a caregiver whose 2021 income was below 80% of the area’s median.

For more on how you can get money, see nine banks offering $1,500 in summer bonuses. See the exact dates and deadlines you need to act by to claim up to $750 worth of checks. And here are the 12 states offering direct payments to parents worth up to $1,000. *Source: Sun