(Bloomberg)—America’s biggest basic-income program is taking a whack from inflation.
A group of low-income residents of Cook County, Illinois is getting their first $500 checks this week from the $42 million two-year program, which organizers say is the largest-ever such initiative in the US. The idea is to give families a government-funded guaranteed payment every month to help pay for the basics like food, shelter and other living expenses.
But with soaring prices for everything from food to fuel, more than 3,000 recipients will find that money won’t stretch nearly as far as when the grants were announced in May.Underscoring the […]
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