Millions of dollars will soon be given away with no strings attached as new guaranteed income programs launch on the west coast.
Two state-funded programs in California will give a total of $5.94 million to 300 people over the course of 18 months.
In San Francisco, 150 participants will receive $1,200 per month, while 150 participants in Ventura County will receive $1,000 per month.
The State of California granted San Francisco $3,439,090 and Ventura County $1,538,758 in funds for the programs, which are focused solely on supporting foster youth.
According to a press release from the Office of Governor Gavin Newsom, the programs, in collaboration with the Department of Social Services, aim to “disrupt poverty, advance equity, and support the basic needs of recipients.”
Says Governor Newsom,
“Guaranteed income programs help level the playing field and will give these former foster youth the support and resources they need to pursue their California dream.”
Susie Smith, San Francisco’s Human Services Agency Deputy Director of Policy, Planning, and Public Affairs says the program may help disrupt the “cycle of poverty” for foster youth.
“The City and County of San Francisco is honored to be one of only two public entities across California to be awarded this state grant to launch a guaranteed income pilot project for former foster youth aging out of our care…
Transitioning out of the foster care system can be incredibly challenging for many of our youth, and this sustained unconditional income over 18 months will help systems-involved youth pursue their hopes and dreams. In doing so, our goal is to disrupt the cycle of poverty and advance a more equitable future for former foster youth.”
California’s programs join dozens of similar pilots across the country, including St.Louis, Missouri, Ann Arbor, Michigan, Fairfax County, Virginia, and dozens more.
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inboxCheck Price Action
Follow us on X, 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 losses 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
