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Oakland to give low-income residents $500 a month, no strings attached

Posted in economics, health

The mayor of Oakland, California, on Tuesday announced a privately funded program that will give low-income families of color in the city $500 per month with no rules on how they can spend it.

The program is the latest experiment with a “guaranteed income,” the idea that giving low-income individuals a regular, monthly stipend helps ease the stresses of poverty and results in better health and upward economic mobility.”

Alan DeRossett.

After two years successfully testing Oakland, California now will expand its basic income to low income residents.

Only people of color in the California city are eligible to receive the basic income, which they can spend however they see fit.

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