Minneapolis residents to receive $500 direct payment today as stimulus check update.

Minneapolis Residents to Receive $500 Direct Payment Today

Exciting news for Minneapolis residents! Today, the Minneapolis Guaranteed Basic Income Pilot will process its next payment to recipients, providing a direct payment worth 0. This program began in June 2022 and is expected to continue through June 2024, providing monthly cash payments to 200 households selected to participate.

Who is Eligible for the Program?

To be eligible for this program, applicants had to meet several criteria. They had to be 18 years old by Jan. 1, 2022, have an annual income at or below 50% of the area median income for Minneapolis, and live in one of several zip codes specified by the program. Additionally, applicants had to have been affected by the coronavirus pandemic, such as losing a job, having higher health expenses, or losing access to child care.

How Can Recipients Use the Payments?

According to the city’s website, recipients can spend the $500 payments in whatever way suits them best. This provides much-needed financial support to those who have been impacted by the pandemic and may be struggling to make ends meet.

Program Demographics

It’s worth noting that the majority of program recipients are black, indigenous, or people of color, at 80.5%. Additionally, 69% of recipients are women, and 42.5% are between the ages of 30 and 39. About a third of households receiving money from this program have just one person in the household.

The Federal Reserve Bank of Minneapolis is evaluating the program, and we can’t wait to see the positive impact it has on the community.

Don’t miss out on more updates like this – click here to read more from the Washington Examiner.