Needy Americans may be in for some good news as a new bill could lead to up to $1,000 in monthly payments.
$1,000 Monthly Payment Guaranteed Income
Legislation 4578, introduced by New York State Senator Jessica Ramos, aims to establish a guaranteed income program for families. The move is expected to help new parents cope with the high costs of welcoming a new child to the world.
Senator Ramos, who introduced the monthly payment proposal, highlighted that New Yorkers are struggling to cover basic necessities and support their families, particularly in the face of rising interest rates and inflation, according to a report published in The U.S. Sun.
She also pointed out that the cost of childcare rose by 41% during the pandemic. Additionally, the total cost of raising a child through high school has increased by $26,000 in the past five years alone, reaching more than $300,000.
Under the proposed bill, eligible parents would receive $1,000 per month for the last three months of pregnancy and the first nine months of the child’s birth. Then, for the last nine months of the program, they would receive $500 per month.
READ ALSO: Updates On Additional $200 Monthly Payments For Social Security Income
Eligibility for the Monthly Payment
To qualify for the monthly payments, applicants would need to meet several requirements. One of the requirements is income, which must be 200% of the federal poverty level. Applicants would also need to provide proof of employment, such as a tax return, wage notice, or employer letter.
In a published article in Techno Trenz, the pilot program would select a total of 15,000 families to participate. More than two-thirds of the participants would come from cities in New York with a population of 200,000 or greater, while the other 5,000 would come from rural areas in the state.
It is important to note that the bill has not yet been passed and is not guaranteed to become law. However, it has multiple co-sponsors, including Republican State Senator Jacob Ashby.
If the bill does become law, it could help struggling families in New York to cover basic necessities and support their families. It may also set a precedent for other states and jurisdictions to follow, leading to more widespread implementation of guaranteed income programs.
READ ALSO: $500 Monthly Payments To Receive For Oakland Families Under Guaranteed Basic Income – Here’s How To Qualify