New York City has officially launched a guaranteed income pilot program to test whether cash handouts can help people achieve self-sufficiency and stability.
The $1.5 million initiative is giving monthly no-strings-attached payments of $1,200 to young adults aged 18 through 24 who have struggled with homelessness.
In addition to the monthly payments, participants can also choose when they want to receive a one-time lump sum payment of $5,000.
The program is currently being tested with 60 people, and the local news outlet The City spoke to several participants for their early takes on the initiative.
A 22-year-old anonymous participant who lives in a shelter in the Bronx says the money is giving her the flexibility to learn new skills.
She also hopes the cash will help her rent an apartment.
“I’ve been in the shelter for so long, it sometimes is a little depressing. Because I’m just like, ‘OK, when are they going to get back to me about this apartment?’
Now, with this money, me and my sister are like, ‘OK, it may just be easier to get that apartment ourselves.'”
The program is being funded by the City Council in partnership with the non-profit Covenant House New York, and will run from December through June of 2026.
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