Minneapolis Becomes Latest City To Test Guaranteed Basic Income

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Minneapolis is joining a slew of cities across the country testing out guaranteed income as a way to ease the disproportionate economic effects of the Covid-19 pandemic.

The Minneapolis City Council approved a $3 million guaranteed basic income pilot program this month as part of the city’s plans to spend its share of the federal American Rescue Plan funds. About 200 families will get as much as $500 a month for two years, with no restrictions on how they can spend it. The guaranteed basic income (GBI) program seeks to address a widening wealth gap in the wake of the economic fallout from Covid-19.

“The pandemic exacerbated disparities between white people and people of color in educational attainment rates, wages earned, and unemployment or underemployment in Minneapolis,” Mayor Jacob Frey said in an emailed statement. “Addressing these disparities with a GBI program like this would help stabilize Black families and provide for opportunities to grow generational wealth.”

Minneapolis plans to spend its $271 million portion of the $350 billion in federal aid for states and local governments in two phases. The measures passed on July 2 allocate more than $100 million to projects focused on addressing housing and business instability.

Read more at Bloomberg.

{Matzav.com}


2 COMMENTS

  1. Even better, they should mandate a two-day work week, so that the white residents could earn just enough to pay for this basic income for the disadvantaged likes of George FLoyd.

  2. Mayor Jacob Frey said in an emailed statement. “Addressing these disparities with a GBI program like this would help stabilize Black families and provide for opportunities to grow generational wealth.”

    What a racist. This privileged WHITE male Mayor, Frey, is openly saying that blacks living in HIS city can not make enough money on their own. Why would this privileged WHITE male promulgate such venom towards blacks in his City???

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