New Orleans launches pilot guaranteed income program: $350 monthly for young people – By Ben Myers (NOLA.com) / May 5, 2022
It’s one of two privately funded efforts
Mayor LaToya Cantrell’s administration has launched a new, privately funded program to provide monthly cash payments to a small group of New Orleans teenagers and young adults, part of a national pilot aimed at building a case for a guaranteed income.
The program selected 125 residents ages 16 to 24, and at the end of April began paying each $350 per month for 10 months. Cantrell said the program is aimed at getting “much-needed, unrestricted cash in people’s pockets at a time where we know our people need it the most.”
The administration announced the program last year after receiving a $500,000 grant from Mayors for a Guaranteed Income, an advocacy group backed by Twitter co-founder Jack Dorsey. The payments will come in the form of Mastercard debit cards issued by Mobility Capital Finance, a financial company focused on increasing banking access to those who lack it.
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