Chicago is poised to become the largest city in the United States to roll-out a controversial pilot program that seeks to give its poorest citizens a “universal basic income,” handing out free cash to help boost the local economy.
According to Fox News, Chicago Alderman Ameya Pawar recently unveiled the program that would dole out $500 per month to approximately 1,000 families throughout the Windy City.
“Nearly 70 percent of Americans don’t have $1,000 in the bank for an emergency,” Pawar told the Intercept. “UBI could be an incredible benefit for people who are working and are having a tough time making ends meet or putting food on the table at the end of the month.”
My legislation calling for the creation of a Chicago #UniversalBasicIncome pilot has 36 co-sponsors! On to the Commitee on Workforce Development and Audit. Committee chair @40thWard is also a sponsor. More soon! #UBI pic.twitter.com/W7D5Hbx31E
— Ameya Pawar (@Ameya_Pawar_IL) June 27, 2018
“Pawar cited automation, with companies such as Amazon, Tesla and other car manufacturers investing in the technology as having the potential to disrupt millions of jobs, that in turn would lead to more political destabilization, according to the outlet,” writes Fox News.
Read the full report here.
CALIFORNIA SCHEMIN’: City Becomes First in the Nation to Test UNIVERSAL INCOME
A California city is poised to become the first in the nation to issue its residents a free universal income; doling out $500 a month with the hopes if boosting a stagnant economy and failing housing market.
According to Fox News, Stockton, California is set to issue the payments to any of its 300,000 residents living below the poverty line; allowing its citizens to spend the free income on anything they wish to purchase.
The test program is set to launch in 2019 with at least 100 residents enrolled for 18 months. After the pilot program, city officials will decide whether or not to make the policy open to all households.
“The city, which was once known as America’s foreclosure capital, has recently fallen on hard times, with 1-in-4 residents living below the poverty line and the median household income at nearly $8,000 lower than the national median,” writes Fox News.
“It is such a fundamental idea behind America that if you work hard, you can get ahead, and you certainly don’t live in poverty. But that isn’t true today, and it hasn’t been true in the country for decades,” said the Mayor of Stockton.
Read the full story at Fox News.