OAKLAND, Ca. (WNCN) — Low-income families in Oakland, Ca. may receive some additional financial assistance thanks to a guaranteed income project set to be launched in the city.
Mayor Libby Schaaf announced Tuesday that for the next 18 months, hundreds of Black and indigenous families and people of color will get $500, with no strings attached.
According to Schaaf, recipients can spend that money however they choose.
The goal of the project is to eliminate racial disparities in economic stability, mobility, and assets through a guaranteed income.
“The poverty we all witness today is not a personal failure, it is a systems failure,” said Schaaf. “Guaranteed income is one of the most promising tools for systems change, racial equity, and economic mobility we’ve seen in decades. I’m proud to work with such committed local partners to build a new system that can help undo centuries of economic and racial injustice, and point us all toward a more just society.”
The city has a goal of starting the project in summer 2021.