Stimulus Check Aug. 2024: This American City Launches Guaranteed Income Program

Ann Arbor, Michigan, has initiated a guaranteed income program, providing $528 monthly payments to 100 low-income residents. The program, known as Guaranteed Income to Grow Ann Arbor, targets residents who are 18 or older, live in Ann Arbor, and have an income at or below 225% of the federal poverty level. Recipients must also be entrepreneurs or small business owners.

The program, proposed by the University of Michigan’s poverty solutions team, began in January 2024 and will continue until December 2025. The university is monitoring the impact on recipients’ businesses, health, and wellbeing, comparing them to a control group.

Financial expert Alex Beene believes this program could significantly improve the lives of participants, though some business owners express concerns about the selection process.

MSN quoted him saying, “Cities across the country are seeing how guaranteed income programs are changing the lives of those who qualify and lifting them out of poverty,” he said.

Beene continued: “Unique to this particular program is a research component to get feedback on what the program provides and what works and what can be improved. This additional element could help to enhance this particular guaranteed income program and ones like it.”

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