Ann Arbor, Michigan residents who met the requirements for a special guaranteed income program will get their $528 third-month payout.
The goal of this initiative, Guaranteed Income to Grow Ann Arbor, is to assist low-income entrepreneurs and small business owners. The Poverty Solutions team at the University of Michigan is leading it.
When will the money be sent to you?
One hundred chosen participants in the scheme received money early this year. According to Kristin Seefeldt, associate director of Poverty Solutions, these payments are expected to be distributed on the fifteenth of each month, with changes made for weekends and holidays, as she verified to the Washington Examiner.
The project will keep funding itself until 2025 in order to evaluate how guaranteed income might improve low-income Ann Arbor residents’ economic stability and progress.
“This guaranteed income pilot is about celebrating residents who do much to strengthen our community but are still struggling to make ends meet,” Seefeldt stated.
The research study’s success depends on both sponsored and unfunded participants, allowing other cities nationwide to benefit from Ann Arbor’s guaranteed income strategy.
In contrast to food stamps, which are limited to the purchase of food, those with guaranteed income are free to utilize their funds anyway they like.
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“You could pay bills, save or buy birthday presents. It’s supposed to reflect a sense of providing people with dignity and acknowledging their decision making is valid.”
Who is eligible for the $528 Stimulus Payment?
Applicants for the program had to be Ann Arbor residents, at least 18 years old, and engaged in small companies or gig employment.
Their income must be at or below 225% of the federal poverty line. Individuals who received or were eligible for government aid, such as SNAP or Pell Grants, also met the application requirements.
The application procedure finished last year, and the chosen participants are now receiving consistent monthly payouts.
