The Mayor of New Jersey’s largest city is poised to test a standard ‘Universal Basic Income’ for the city’s poorest residents; handing out hundreds of dollars per month to help alleviate the region’s escalating poverty crisis.
Newark Mayor Ras Baraka unveiled the proposal last week when he confirmed the city will be launching a “pilot program” to study the impact of the scheme on local residents and businesses.
“We believe in Universal Basic Income, especially in a time where studies have shown that families that have a crisis of just $400 a month may experience a setback that may be difficult, even impossible to recover from,” said the Mayor.
Similar programs have been attempted in Canada and Finland, where the scheme was largely abandoned after it was deemed too expensive and had a negligible impact on the financial-well being of the residents.
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