Ongoing $1,000 Stimulus Payments Could Be on the Horizon for Select Americans
Key Insights:
- The state of Oregon is contemplating implementing an ongoing universal basic income (UBI) program that would allot $1,000 per month to select residents.
- The prospective initiative would resemble the federal COVID-19 stimulus checks and could function as a successful UBI model for other U.S. locations.
- The proposed Senate Bill 603, backed by State Senator WInsvey Campos and the advocacy group Residents Organizing for Change, outlines the details of the program, which is earmarked to help families similar to the stimulus checks.
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Is a Universal Basic Income the Next Big Stimulus Initiative?
Oregon lawmakers are deliberating the initiation of a program that would extend regular $1,000 payouts to a select group of eligible inhabitants. These payments are part of a proposal to institute a Universal Basic Income (UBI) model, akin to the unrestricted cash payments distributed as federal COVID-19 stimulus checks during the pandemic.
Here’s a brief rundown of the proposed Oregonian UBI program and the potential beneficiaries of this system.
Who’s up for a $1,000 Check?
The proposed Senate Bill 603, endorsed by State Senator WInsvey Campos and Residents Organizing for Change, an advocacy group campaigning for affordable housing in Oregon, would pave the way for monthly $1,000 checks to be sent to eligible recipients.
If approved, the bill would set aside $25 million to establish the People’s Housing Assistance Fund Demonstration Program, essentially a pilot program enabling a cohort of 1,000 participants to receive monthly checks of $1,000 over a two-year period.
The assistance would be targeted toward residents who are currently without any form of housing aid and whose income is at or below 60% of the area’s median income. This program would be the first of its kind to be implemented at the state level.
The efficacy and execution of the program would be evaluated through an extensive study conducted as the funds are disbursed. This research aims to determine whether the program could be extended to a broader population in the future.
Residents Organizing for Change had considered several plans, including the UBI program and stimulus checks, to be directly deposited into recipients’ bank accounts or mailed as physical checks.
Could the Program Expand?
Should the pilot initiative in Oregon prove successful, there is potential for its expansion both within the state and potentially as a blueprint for similar endeavors in other parts of the U.S. The goal is to effectively combat poverty and homelessness.
During the pandemic, stimulus checks significantly alleviated financial hardships for many by providing a flexible influx of cash. In contrast to the specific targets of typical government assistance, these checks could be used according to individual needs. A UBI program could likely offer a similar boon.
However, the launch of Oregon’s pilot program is not yet confirmed. Even if successful, it may be years before other states opt for this approach in distributing financial assistance.
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