New York :
Dorsey also donated $ 5 million to former Democratic presidential candidate Andrew Yang.
Photo: Drew Angerer / .
Jack dorsey, the CEO of Twitter, donated $ 15 million to pilot universal income programs in the United States.
This is Dorsey’s second gift to a group of 30 mayors who plan to work together to launch universal basic income pilot programs. The money is given in the form of cash to Americans without strings attached in order to exacerbate income inequality.
The coalition of mayors founded the Mayors for Guaranteed Income group in June that is committed to exploring direct and recurring cash payments to community members and to advocate for a similar program across the country.
“As mayors, our problems may seem different from city to city, but we are united in our duty to ensure the economic security of our residents, and it is unacceptable that people who have two or three jobs cannot meet basic needs.” said Michael tubbs, mayor of Stockton, California, and founder of the group via press release.
Thank you Mayor and to all the Mayors of @mayorsforagi for these universal basic income pilots! I hope they inform federal policy in the future. https://t.co/6ItPWx3Lld
– jack (@jack) December 8, 2020
Tubbs, 29, launched a small 18-month guaranteed income experiment in Stockton in early 2019 offering $ 500 dollars a month to 125 residents to spend how they wanted the money, as reported by the Vox site.
Data from the pilot program suggests that most of the beneficiaries spent the money on transportation, utilities, medical care, and debt payments. About 40 percent of the spending tracked was for food, as reported by the University of Berkeley.
Among the cities that have joined the initiative are: Newark, Columbia, Atlanta Compton, St. Paul, The Angels, Jackson, Mississippi, Shreveport, Oakland and Tacoma.
Each of the cities are looking to launch their own basic income program with different sources of funding by creating a task force to find money in the city budget or by forming a public or private partnership, Tubbs told Forbes.
Related: Why the Proposal for a Second $ 600 Stimulus Check Could Succeed
The $ 2.2 trillion CARES Act signed in late March included one-time payments of up to $ 1,200 dollars for Americans earning less than $ 99,000 and an additional $ 600 a week in unemployment benefits. Money was essential to prevent rising levels of poverty, according to research conducted by the Center for Poverty and Social Policy at Columbia University, despite historic levels of unemployment in the country.
Research by the Federal Reserve found that a substantial number of adults said they were vulnerable and could not pay their bills or would have had a difficult time doing so if they had had a hard time doing so if they had been presented with an unexpected bill of $ 400. .
Dorsey also donated $ 5 million to the former Democratic presidential candidate and businessman Andrew Yang of the non-profit organization Humanity Forward, which promotes the universal basic income policy, a key part of Yang’s 2020 campaign.
Tubbs lost his bid for re-election to Stockton in November and the universal membership pilot program expires in January.
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