A new guaranteed income program is set to disperse millions of dollars to families on the west coast.
The program, dubbed The Nest, aims to support 150 families “disproportionately impacted by poverty” living in Washington State.
The pilot program is designed to support indigenous families in King County, Pierce County or the Tulalip Reservation, and the signup process is now open.
It will begin doling out monthly payments of $1,250 with no strings attached to selected families when the mother reaches her 12th week of pregnancy until the child’s third birthday. Each family is expected to collect a total of $45,000 throughout the duration of the program.
The Nest, which will send out a total of $6.75 million, is spearheaded by the Seattle-based nonprofit Hummingbird Indigenous Family Services.
Says Camie Goldhammer, founding executive director of Hummingbird Indigenous Family Services, in a press release,
“Guaranteed income is transformative not only because it is associated with decreased perinatal mood disorders, increased self-efficacy and improved birth outcomes, but also because it demonstrates an inherent trust and value in communities whose humanity is consistently devalued by mainstream society.
It’s a testament to the profound love and care we have for our communities that we are able to provide such an impactful program to give financial stability to people at such a critical point in their lives.”
Applications for the program are now open. The Nest plans to admit 15 new participants each month until all slots are filled.
The trial is one of dozens across the US that are set to give away more than $200 million to gauge just how effective basic income programs may be for people who are struggling to make ends meet.
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inboxCheck Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
