A 29-year-old mayor is giving his city’s poorest residents a basic income of $500 per month. He says the program is a success so far.

The city of Stockton, California, is giving 125 residents monthly payments of $500, no strings attached.

The payments are part of a basic-income trial led by the city’s 29-year-old mayor, Michael Tubbs.

Preliminary results show that most participants used the stipends to buy groceries and pay their bills . Tubbs told Business Insider the early data makes him more confident that a basic-income program would benefit his city and could even serve as a national solution to income inequality. Visit Business Insider’s homepage for more stories. Mayor Michael Tubbs of Stockton, California, was just 28 years […]

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