This is yet another investment in equity. As the pilot progresses, the Community Foundation plans to measure the economic status of participants over time, employing a comprehensive evaluation program that balances quantitative and qualitative measures. The Greater Washington Community Foundation, as part of its Together, We Prosper Campaign for Economic Justice, will administer the pilot program. Specifically, Thrive Prince George's will provide a monthly stipend of $800 for 24 months to 50 youths (ages 18-24) who have aged out of the foster care system and 125+ seniors (ages 60+) with no strings attached and no employment-related requirements. We are using these funds to help two particularly vulnerable groups of Prince Georgians, our seniors on fixed incomes and economically vulnerable youth. With a guaranteed, steady stream of income, pursuing new opportunities is much, much easier. Guaranteed income can enable a person to pay down debt, move into permanent housing, further their education to secure a better job, or spend valuable time with family. Across the country, these guaranteed income programs, also called universal basic income, help people thrive. Study after study confirms that these programs work. In short, guaranteed income programs are about giving everyone in our community the chance to dream. We recognize that by giving funds to our low-income residents, we afford them the opportunity to choose what they want to do with their time, to find more stable jobs, to gain new skills, and to spend more time with their families. Overall, the program created new opportunities, allowing residents to make choices about what they would do, setting goals that allowed for greater freedom. Recipients’ health improved, their anxiety dropped, and their well-being increased. The findings of the program were remarkable, with residents who received the income seeing their income-volatility drop, helping them plan for and cover expenses without surprises. The nation’s first mayor-led guaranteed income program was the Stockton Economic Empowerment Demonstration, known as SEED, which began in 2019 and gave 125 residents of Stockton, California $500 per month. Struggling financially is often much more expensive than having stable finances, and for our residents who are struggling to meet basic needs, this program will help stabilize their finances and have a tremendous, positive impact on their quality of life. These unconditional cash payments help vulnerable residents rise from the cycle of poverty. READ PRESS RELEASE: Prince George’s County Launches its First-Ever Guaranteed Income Program Why A Guaranteed Basic Income Program?Ī Guaranteed Basic Income program is a proven way to help lift people up and change lives for the better. That money, together with the other partners each contributing $1 million, created a budget of $4 million to make the pilot program a reality. My administration contributed $1 million towards the initiative, and we provided this funding without compromising our budget, because this program will be carried out by local non-profit organizations. The funding for Thrive Prince George’s comes from a combination of public and private philanthropic resources. Today, we were Prince George’s Proud to join the Greater Washington Community Foundation, the Meyer Foundation, the Department of Social Services, and our County Council to announce the historic launch of Thrive Prince George’s, a two-year, $4 million guaranteed-income pilot program aimed at fostering economic stability and mobility for families in our community.
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