Stimulus 2022: Americans set to get $6,500 each in one-time payments under $9 million pot

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A CASH assistance program that will positively impact multiple groups of Americans is set to go into effect this year. The city of Denver, Colorado will be expanding its universal basic income program to hundreds of needy people.

The guaranteed income project expansion will positively impact hundreds.  The Denver Basic Income Project first provided money to 11 individuals a year ago followed by another 28 this July.

Now the program is expanding even further to three new groups. Under the plan, the city said it will give 260 individuals $6,500 upfront, followed by $500 monthly payments for 11 months. The second group of 260 people will be getting $1,000 per month for a year.

And the last batch of 300 will get $50 per month for a year. In terms of how it will be funded, the project has raised more than $7 million thus far. However, it needs an extra $2 million to assist the first round of participants, reports Westword.

 

Who is eligible?

According to the program, participants will be selected through a randomized process. To be eligible, you must be at least 18 years of age and experience some kind of homelessness. The city describes this as being without “fixed, regular, and adequate nighttime residence.”

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The list includes the following

  • Living in cars, parks public spaces, camping grounds, or hotels and motels
  • Sharing housing because of economic hardship
  • Living in emergency or transitional shelters
  • Those whose nighttime residence is not designed for “regular sleeping accommodations”

Moreover, you must not have “severe and unaddressed mental health or substance use needs,” the city said.
According to Westword, applications are not being accepted yet but the program is expected to kick off later this year.
If applicants are selected, they will be placed into one of three groups – meaning they cannot choose themselves.


Others offering UBI

Across the country, dozens of states and cities have kicked off UBI programs. This includes Mount Vernon, New York, which will send $500 monthly payments to 200 residents for a year. However, there are only days left to apply.

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To participate, households must earn at least $15,000 annually. Income caps vary by household size, but families must make less than 80% of the county’s average income to qualify.

Another program will allow eligible residents in Mountain View, California, to apply for a $500 UBI program. The maximum annual income to be eligible is $44,750 in 2021 for a family of three.

Applications are expected to open in mid-to-late summer, according to the city. And more than 100 immigrant families in Coachella in California will be able to apply for $9,600 worth of payments.

Immigrant families with young children who have been excluded from federal relief will be prioritized. Those eligible will receive an email with steps on how to complete an application through the Mission Asset Fund application portal, according to the non-profit organization.
It will be open to invited parties for 30 days. The program is expected to launch in October.

Plus, a budget proposal in New Jersey would offer more than 100 residents monthly payments of $400.
For more on how you can get money here are the 12 states offering direct payments to parents worth up to $1,000.

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About William Johnson 287 Articles
Demystifying the world of finance is my mission. As a finance news writer with 7 years of experience, I've covered everything from breaking market news to in-depth analysis of industry trends. I'm here to keep you informed and empowered in your financial journey.

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