The recipients of Minneapolis Cash Program are looking forward to receiving the next $500 payment, which was delivered to them today.
The Minneapolis Guaranteed Basic Income Pilot program, which was started in June 2022 and has been improving the lives of its participants, has reached another critical milestone with this big payment.
Criteria For Minneapolis Cash Program
The program delivers monthly cash payments to its carefully chosen recipients until June 2024. It was created to bring financial stability and support to people and families in need.
Through this project, financial burdens will be lessened, economic empowerment will be promoted, and the possible advantages of a guaranteed basic income system in the city will be investigated.
Out of the many applicants, 200 houses were selected to take part in this revolutionary pilot project.
They now have the freedom and discretion to use these funds however they see fit, thanks to the city of Minneapolis, providing individuals the chance to make choices based on their own objectives and circumstances.
All participants receive $500 each month, according to the program’s project manager, who informed the Washington Examiner that payments are made on the 20th of each month.
Applicants needed to be 18 years old by January 1, 2022, reside in one of the designated Minneapolis ZIP codes, and earn no more than 50% of the median income for the city.
Read more: Minneapolis Residents To Receive $500 Stimulus Check Today
Individual Residents In Funded Minneapolis Homes
Additionally, candidates had to have experienced the COVID-19 pandemic’s effects by losing their jobs, incurring increased medical costs, or being unable to get child care.
According to the project manager, the Federal Reserve Bank of Minneapolis is evaluating the program.
Furthermore, 42.5% of all program participants are between the ages of 30 and 39, and 69% of program participants are women.
One individual resides in the household in around a third of the households that receive funding from this program.
Read more: Direct Payment Update: $1,000 Stimulus Check Imminent For 1,000 Eligible Individuals