The mayor of Compton announced Monday that the California city will be giving recurring cash payments to hundreds of its low-income residents starting later this year.
The pilot program, called the Compton Pledge, guarantees cash payments between $300 and $600 to a group of 800"pre-verified" residents each month for two years and access to free banking services. The money is available for "irregularly or informally employed residents, immigrants of varied legal status, and the formerly incarcerated," according to a“I know firsthand what guaranteed income could have done for my mother," Brown said.
More than 20% of Compton's 95,000 residents, who are predominantly Black and Hispanic, live in poverty, double the national average. Unemployment has risen to 21.9% since the start of the coronavirus pandemic, according to the program. The initiative is designed"to challenge the racial and economic injustice plaguing both welfare programs and economic systems."The Compton Pledge has raised more than $2.5 million in private donations and organizers hope to raise a total of $8.
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A California city is guaranteeing income to 800 residents for two yearsThe city of Compton is launching a pilot program that will guarantee monthly cash payments, ranging from $300 to $600, to 800 of its low-income residents for two years — with no strings attached. Im making over $13k a month working part time. i kept hearing other people tell me how much money they can make online so i decided to look into it. well, it was all true and has totally changed my life. this is what i do Copy Here.........www.worknet8.com Ⓡ Giving people money only works if you also TEACH them how to use this income properly. Otherwise you’re just setting people up for failure as a result of mismanaging funds. In which case the program is dead in its cradle. Hopefully we see an increase in financial literacy.
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