Oakland to give low-income residents $500 a month, no strings attached
CBSN
The mayor of Oakland, California, on Tuesday announced a privately funded program that will give low-income families of color in the city $500 per month with no rules on how they can spend it.
The program is the latest experiment with a "guaranteed income," the idea that giving low-income individuals a regular, monthly stipend helps ease the stresses of poverty and results in better health and upward economic mobility. The idea isn't new, but it's having a revival across the U.S. after some mayors launched smaller scale pilot programs across the country in a coordinated campaign to convince Congress to adopt a national guaranteed income program.More Related News