New York Now Sending $1,200 Monthly Payments To Residents

A new program in New York is now sending $1,200 a month to some residents, no strings attached.

It's aimed at helping New Yorkers find stability.

New York Begins Sending $1,200 Monthly Payments To Some Residents

The pilot program is designed to test whether direct cash payments can help people move toward financial stability and independence.

The pilot program launched in New York City, which focuses on young adults who have experienced homelessness.

Participants aged 18 to 24 receive $1,200 per month and can also choose to take a one-time $5,000 lump-sum payment at any time during the program.

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Right now, the pilot is relatively small. Only 60 people were selected to participate.

The initiative is funded through the New York City Council and is being run in partnership with Covenant House New York, a nonprofit that helps young people experiencing homelessness.

What Participants Are Saying

Early feedback from participants suggests the payments are already making a difference.

One 22-year-old participant living in a Bronx shelter told The City the money is helping her think about the future and possibly renting an apartment with her sister.

After spending years waiting in the shelter system, she said the monthly payments could make it easier to eventually secure housing on their own.

Millions Of New Yorkers Could See Massive $3,000 Payments

Many readers won't qualify for the New York City pilot program. However, Hudson Valley Post just learned that lawmakers have introduced a bill that sent $3,000 to households earning $150,000 or less per year.

A family of four could get up to $12,000.

If passed, the money would come from a proposed 5 percent tax on billionaires.

CLICK HERE for more information on the “Make Billionaires Pay Their Fair Share Act.”

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