California approves 1st state-funded guaranteed income plan

Cash money
Posted at 7:42 AM, Jul 15, 2021
and last updated 2021-07-15 14:39:52-04

SACRAMENTO, Calif. (AP) -- The California Legislature has approved the nation's first state-funded guaranteed income program.

The $35 million plan, approved Thursday, will fund local programs that will provide monthly cash payments to young adults who recently left foster care and pregnant people.

The local programs will set the monthly amount and there will be no restrictions on how recipients spend it.

Los Angeles is among a growing number of local governments have started guaranteed income programs.

Monthly payments generally range from $500 to $1,000.

Advocates say their goal is to get Congress to approve a permanent, national guaranteed income program.