Very soon, numerous qualifying recipients will receive the upcoming $500 payment as part of the Minneapolis Guaranteed Stimulus Check initiative. Launched in June 2022, the Minneapolis Guaranteed Basic Income Pilot program aims to provide monthly cash payments to eligible individuals until June 2024. Minneapolis’ Groundbreaking Basic Income Initiative Commenced in the Prior Year, Offering Monthly Support to Underprivileged Families.
In an effort to empower struggling families and foster financial stability, the Minneapolis Guaranteed Basic Income Pilot program was initiated last year. The program’s core objective is to provide recipients with the flexibility to address immediate needs while making long-term investments. These are the keys to understanding how these stimulus checks work.
Qualifying for Stimulus Check in Minneapolis
Qualifying households in Minneapolis are granted a fixed monthly sum of $500 for a duration of two years, spanning from June 2022 to June 2024. A total of two hundred households have been carefully chosen to participate in this pioneering program, and they have the freedom to utilize the stimulus funds in any manner they deem fit.
Among the carefully selected 200 households participating in the Minneapolis Guaranteed Basic Income Pilot program, 69% represent female members, while 26% are male. In terms of race and ethnicity, approximately 80.5% of recipients identify as black, indigenous, and people of color (BIPOC), while 19.5% are white/non-Hispanic. The age range of recipients spans from 18 to 88 years, with an average age of 38 years. Notably, 21.5% fall within the 18-29 age bracket, 42.5% are between 30-39 years old, and only 1% are aged 80-89.
Regarding household size, around one-third of recipients reside in single-person households, while approximately 20% have five or more individuals sharing the same household.
Rising Trend: The Surging Popularity of Guaranteed Basic Income Pilot Programs
To qualify for the guaranteed stimulus check, applicants must fulfill specific criteria. Firstly, they must have reached 18 years of age by January 1, 2022. Secondly, applicants must reside in designated zip codes. Additionally, their annual income must not exceed 50% of the city’s median income level. It is also necessary for applicants to have faced financial hardships due to the COVID-19 pandemic, such as job loss, increased healthcare expenses, or limited access to childcare, technology, or transportation.
Payments are processed on the 20th of each month, ensuring timely distribution of the next installment on June 20.
In the wake of the COVID-19 pandemic, guaranteed income programs have experienced a significant surge in popularity. Mayors for a Guaranteed Income, an organization established in June 2020, has been at the forefront of advocating for guaranteed income initiatives at local, state, and federal levels. A study conducted in 2020 by the Center on Poverty and Social Policy at Columbia University revealed that even a modest guaranteed income of $250 per month can effectively reduce poverty rates by 40%.
Across the nation, numerous guaranteed income pilot programs have emerged. For instance, Los Angeles has introduced its Basic Income Guaranteed: Los Angeles Economic Assistance Pilot (BIG:LEAP). This program extends monthly payments of $1,000 to 3,200 individuals over a span of 12 months. Similarly, Chicago is implementing the Chicago Resilient Communities Pilot program, providing $500 per month to 5,000 participants.
Currently, many of these guaranteed basic income pilot programs are financed through philanthropic contributions and the American Rescue Plan Act.