A US city is preparing to give away $1.05 million to residents in a new guaranteed income project.
People who are facing financial hardships can soon apply for the new program called GRIT 2.0 in Tacoma, Washington.
The project will give 175 families $500 a month for 12 consecutive months, and the way that money is spent is unrestricted.
To qualify, each family’s income must be above 100% of the Federal Poverty Line (FPL) and below 200% of the FPL for the household’s size.
“For many households, a small monthly infusion of financial support can make the difference between stability and vulnerability…
These dollars are unconditional and unrestricted. This project is designed to demonstrate that this type of cash investment can reduce feelings of overwhelm and toxic stress, improve economic stability, increase housing security, and improve health and well-being while reducing poverty in our community.”
The project is backed by a partnership with the Washington State Economic Services Administration, the City of Tacoma, Pierce County Government, and United Way of Pierce County.
It joins dozens of similar pilot programs across the country, all designed to test whether cash handouts are an effective tool that can help lift people out of poverty.
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