A guaranteed income program in Massachusetts that will give selected participants monthly payments of $500 will start accepting applications in five days.
The applications for the program, titled Rise Up Cambridge, will open on June 1 and close on July 31. Applications will be approved on a rolling basis.To qualify for the program, an applicant must be a resident of Cambridge, be at least 18 years old, and have at least one person in his or her household under 21. The household's income must also be at or below 250% of the federal poverty level.
The income requirement for a household's eligibility depends on how many people live in the household. Households of two people, such as mother and child, will be eligible if they make no more than $49,300 a year, and households of three will be eligible if their annual income does not go over $62,150. The income limit increases slightly with every additional household member.
The payments are intended to help households with at least one child, and they are being funded by a $22 million commitment from Cambridge, Massachusetts. Recipients selected for the program will be given monthly installments of $500 for 18 months for a total of $9,000. There is no restriction as to what the recipients can spend the funds on.
In addition to receiving the monthly payments, recipients can make money by participating in surveys or by documenting their experiences in the program. These surveys will be optional, but those who partake in them will be compensated for the time spent on them.The money recipients get from the monthly installments will not need to be reported as taxable income.
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