Payment of $500 for 18 months in the US: Requirements to receive this benefit: Millions of Americans can get a $500 payment for 18 months, but to obtain their first payment in April, citizens must fulfill three requirements. The US has a large number of economic initiatives aimed at assisting the most vulnerable segment of the population—those with little money.
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While many of these economic relief initiatives are run at the federal level, some are managed at the state level. One example of this is the Guaranteed Basic Income Programs, which are offered in a number of the country’s states and allow low-income families to receive $500 per month.
Check if your state is eligible for the monthly $500 payment
Texas
One of the most recent counties to approve this financial relief is Harris County, Texas; the measure was approved on June 6 and will provide $500 in monthly payments over 18 months. Since the program was announced so recently, it is anticipated that the requirements will change and be announced in the upcoming weeks.
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California
In California, the application deadline was in April. But starting in June, each month, the funds will be given out for a year. Univisión reports that only 125 families were chosen out of all those who applied. Those who qualified had to live in El Monte, be single women, head of household, or single without a partner, have dependents between the ages of 0 and 17, and make less than the federal poverty line.
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Minnesota
Minneapolis residents will also receive monthly payments of $500 for two years, beginning in June 2022 and ending in 2024. In contrast to the people of El Monte, California, 200 households were chosen for this project in Minneapolis.
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To be chosen, a household had to meet several criteria, including residing in specific Minneapolis zip codes, turning 18 before January 1, 2022, earning less than half of the city’s median annual income, and experiencing the COVID-19 pandemic.
New York
The American Rescue Plan Act would fund the guaranteed basic income initiative, which will help 351 households in the city of Rochester, New York. Participants will receive $500 in monthly payments for a year, with no strings attached.
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One person per home may participate in the program; applicants must be at least eighteen years of age, have resided in a qualifying census tract for at least a year, and have a household income of at least 185% of the federal poverty threshold. The application period will open on June 22 at 10 a.m. and close at 11:59 p.m. on June 29.
These guaranteed income schemes are becoming more and more popular in different locations, which is evidence of the dedication to easing financial difficulties and giving needy individuals and families more stability.
With the $500 payment taking off, it has the potential to significantly improve the lives of qualifying citizens by establishing financial stability and enhancing community well-being.
Similar Government programs pay millions of dollars across the US
The $500 payment is not the only benefit that the government is distributing across the country. Similar programs have rolled out across the country, often targeting vulnerable populations like new parents or retirees.
A unique program in Prince George’s County, Maryland, provides financial assistance to those living in the Washington, DC, area. The $4 million project is intended to benefit two demographic groups: 175 former foster children and senior citizens.
This direct financial support stands in contrast to typical welfare programs, which can decrease benefits with rising income. Some academics support a more comprehensive strategy known as universal basic income, in which the government provides regular payments to all citizens.
Alaska already practices a similar system, distributing its resource wealth directly to residents. While concerns about cost exist, these contrasting approaches raise interesting questions about how best to support individuals and communities.