New York City has officially launched a guaranteed income pilot program to test whether cash handouts can help people achieve self-sufficiency and stability.
The $1.5 million initiative is giving monthly no-strings-attached payments of $1,200 to young adults aged 18 through 24 who have struggled with homelessness.
In addition to the monthly payments, participants can also choose when they want to receive a one-time lump sum payment of $5,000…