A guaranteed income program for recipients in the state of New Jersey is scheduled to issue its next payment in just under a week.
The payment scheduled for July 1 will be worth $250, and it will be for 200 out of the 400 recipients of the Newark Movement for Economic Equity program. Half of the recipients receive smaller payments twice a month, while the other half of recipients receive larger payments once every six months, the Newark mayor’s press secretary told the Washington Examiner.
“We’ve helped people to avoid eviction, supported residents to get back on their feet after being hospitalized with COVID, provided funds for families to stabilize themselves during great economic turmoil, putting clothes on their kids’ backs,” read a statement from Kevin Callaghan, the Newark philanthropic liaison. “Formal results will be released by our research partner, the Center for Guaranteed Income Research at the University of Pennsylvania in 2024. Participants complete detailed surveys twice a year that assess their physical health, mental health, financial security, housing stability, and more.”
The statement from Callaghan indicated that 41% of residents in the program spend the money they receive at retail stores to buy clothing, food, and necessities, while 26% spend their funds at grocery stores. Additionally, 10% spend their funds on housing and utilities, and 9% spend the money on transportation and car expenses.
To have been eligible for this program, an applicant needed to be at least 18 years old and have an income that fell 200% below the federal poverty income threshold. All recipients of this program were randomly selected.
People who receive the smaller payments twice a month are scheduled to receive their payments on the 1st and 15th of a month. People who receive their payments only twice a year, on the other hand, receive their payments in May and October.
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This program started in October 2021 and is set to conclude this October.
Additional information can be found on the program’s website.
