Category: Basic Income

Basic Income and Climate Change

Basic Income and Climate Change

Speakers: Mitchell Beer, Dr. Jim Mulvale, Janet Patterfung, and Scott Santens

Moderator: Natasha Pei

Share with a friend: Basic Income has been long positioned as a means to reduce poverty and improve equality, but it is also a promising strategy for helping Canadians manage increasingly frequent extreme weather events caused by climate change. Moreover, it is also considered viable for helping communities transition to a new carbon economy while supporting marginalized populations to thrive.Join poverty reduction and environmental advocates to explore the ways in which Basic Income can be a tool for both environmental and social progress. […]

Chicago set to vote on largest ‘guaranteed basic income’ program

Chicago set to vote on largest 'guaranteed basic income' program

Scott Olson/Getty Images News Today, the Chicago City Council is set to consider the "largest basic income program in the history of the United States," which will give 5,000 low-income households $500 per month. The $31.5M one-year pilot program is part of Mayor Lori Lightfoot’s 2022 budget and would be funded through federal money Chicago received from the Biden administration’s American Rescue Plan. While the program is supported by most of city’s 50 aldermen, it has received pushback from the 20-member Black Caucus, which has urged Lightfoot to redirect the cash to violence prevention programs.

How will it work? […]

Every rand spent on South Africa’s new basic income grant will be an extra rand of tax

Every rand spent on South Africa’s new basic income grant will be an extra rand of tax

The government could fund a new basic income grant for South Africa by borrowing money, but ultimately it will be taxpayers who pay for the new scheme, says Wits University professor Michael Sachs.

In a presentation hosted by the Department of Social Development on Tuesday (26 October), Sachs said that a decision to borrow money for the new grant would be dependent on two factors: The current state of the economy;

Government’s fiscal position. Ultimately, even if the government does decide to borrow instead of raising taxes directly, Sachs said that the issue of expenditures and taxes cannot be separated […]

Annuities: How to Turn Retirement Savings into Retirement Income

Annuities: How to Turn Retirement Savings into Retirement Income

Will you have enough income for retirement? Is enough of it guaranteed for life so you don’t need to worry about running out of money if you live to a ripe old age?

Social Security payments equal only about 40% of the average wage earner’s pre-retirement income. If, like most people, you don’t have a traditional employer-provided pension, you’ll have to make up the rest. A rough rule of thumb is that you’ll need 80% of your pre-retirement income.

Let’s say you’ve done the right things. You’ve taken advantage of your employer-sponsored plan and have socked away money in your 401(k), […]

Los Angeles to pay $1,000 a month to 3,000 families in guaranteed-income program

Los Angeles to pay $1,000 a month to 3,000 families in guaranteed-income program

LOS ANGELES (CNS) — The largest Guaranteed Basic Income pilot program in the country was approved by the Los Angeles City Council on Tuesday, expanding the city’s initial $6 million investment to nearly $40 million to benefit 3,000 Angelenos.

The BIG:LEAP – Basic Income Guaranteed: Los Angeles Economic Assistance Pilot – program will give $1,000 in direct cash payments to families each month for 12 months. The no-strings-attached payments will be given to families who were impacted by the pandemic and are living in poverty.

More than a quarter of the participants will be residents of Councilman Curren Price’s district, Council […]

10-day application period for L.A.’s guaranteed income program begins Wednesday

10-day application period for L.A.’s guaranteed income program begins Wednesday

US HEADLINES :

The application window for a new $1,000-a-month cash assistance program in Los Angeles run by City Hall kicks off Wednesday, making L.A. the biggest city in the nation to launch such an initiative.

The city’s guaranteed basic income program will give 3,200 Los Angeles households the monthly stipend for a year. The 10-day application period opens Wednesday, when officials say they will release details about how to apply. Recipients will be announced in early January.Recipients will be randomly selected by the city’s research partner, the Center for Guaranteed Income Research, city officials said.To qualify, applicants must live […]

Chicago Set to Pass One of U.S.’s Biggest Guaranteed Income Plans, Amid Calls to Put Money to Violence

Chicago Set to Pass One of U.S.’s Biggest Guaranteed Income Plans, Amid Calls to Put Money to Violence

The Chicago City Council is expected to pass a measure this week that would result in one of the largest guaranteed basic income measures in the country, amid calls from black lawmakers to put the money toward the city’s violent crime problem.

The Chicago police department as of last week reported 649 murders this year, compared to 634 for all of 2020.

The program, if passed, would give 5,000 low-income households $500 a month, using funding from the federal stimulus package that was rolled out earlier this year to address economic hardship as a result of the pandemic.The program is part […]

300 Low-Income Families to Get $800 Per Month in Montgomery County Program

300 Low-Income Families to Get $800 Per Month in Montgomery County Program

A pilot program will give 300 low-income families in Montgomery County, Maryland, $800 per month.

“Create long-term economic benefits like going to community college to improve their job skills, buying a car to have access to a higher paying job that may not be accessible via transit, or eliminating old debt that would otherwise trap a family in a cycle of poverty,” Montgomery County Council member Will Jawando said.

The Montgomery County Council approved a $2 million appropriation to help fund the program.“This work cannot and should not be done alone,” said Julian Haynes of The Myer Foundation. The Myer Foundation […]

LA’s Guaranteed Basic Income: City to offer $1K/month to families in poverty, no strings attached

LA’s Guaranteed Basic Income: City to offer $1K/month to families in poverty, no strings attached

LA City Councilman Curren Price (Photo by David Crane, Los Angeles Daily News/SCNG) By MARGARET SHUTTLEWORTH | City News Service

LOS ANGELES — The largest Guaranteed Basic Income pilot program in the country was approved Tuesday by the Los Angeles City Council, expanding the city’s initial $6 million investment to nearly $40 million to benefit 3,000 Angelenos.

The BIG:LEAP — Basic Income Guaranteed: Los Angeles Economic Assistance Pilot — program will give $1,000 in direct cash payments to families each month for 12 months. The no-strings-attached payments will be given to families who were impacted by the pandemic and are living […]

Montgomery County launches plan to give $800 a month to hundreds of residents

Montgomery County launches plan to give $800 a month to hundreds of residents

300 vulnerable households will get the $800 "guaranteed income" cash payments for two years to use however they want. ROCKVILLE, Md. — What would you do with an extra $800 a month, no strings attached?

Pay off debt? Put the kids in child care? Enroll in college classes?

Montgomery County is officially joining the guaranteed basic income movement, becoming the first jurisdiction in Maryland to offer direct cash payments to low-income residents."It would help us with bills and food and things we’re trying not to spend too much on now," Aspen Hill resident Jose Rodriguez, a chef, said.Starting at the beginning […]