by Peter Knight

 

“A major US city has allocated $3 million to a guaranteed income pilot program in the budget for the 2026 financial year. The program aims to provide direct cash grants to expecting mothers and foster youth facing housing insecurity. This initiative is part of a broader effort to enhance the economic well-being of the city’s residents by creating a more stable financial environment, enabling them to meet their basic needs and improve their overall quality of life.

New York City Council Speaker Adrienne Adams announced the allocation, highlighting the city’s commitment to addressing income inequality. The program is expected to have a positive impact on the local economy, as increased spending by recipients could stimulate economic activity and support local businesses. This initiative is a response to the growing recognition of the importance of social welfare in reducing income inequality and sets a precedent for other cities considering similar initiatives.”

To view the article, click here.