BALTIMORE – A two-year guaranteed income program that provided young parents in Baltimore with $1,000 per month led to greater financial stability, reduced stress, and higher rates of educational and job participation, according to new independent data released Wednesday.
The Baltimore Young Families Success Fund provided 200 residents aged 18 to 24 with an unconditional monthly payment from August 2022 through July 2024. The program, backed by $4.8 million in federal American Rescue Plan funds, was designed to help low-income young parents cover basic needs and pursue long-term goals.
Researchers found that participants used the extra income to pay off debt, increase savings, afford child care, and improve housing stability. Compared to a control group, those receiving payments reported fewer missed hours at work due to child care problems, greater food security, and less “household chaos,” the report said…