Basic Income Pilots Prepare to Hand Out Cash Across US

It seems that people in the US might have something to celebrate. Check out the latest reports about the plans below.

Governments and organizations in the US are conducting basic income trials, providing substantial amounts of money to people without any conditions.

A guaranteed income pilot in Sacramento, California is set to distribute a total of $780,000 over a year.

The pilot aims to help 130 families who are struggling to afford basic necessities such as housing and food, by giving them $500 per month.

The United Way California Capital Region and a donation from the Sierra Health Foundation are behind the pilot, and applications are open until October 31st.

According to RoughDraft Atlanta, the Arthur M. Blank Family Foundation has pledged $6.2 million towards providing a basic income for women of color in Georgia.

This money will be used to support the In Her Hands initiative, which aims to give 650 women in three communities across Georgia an average of $850 per month for a 24-month period.

These efforts are part of a larger movement across America, which includes initiatives such as a $2 million basic income program in Fairfax County, Virginia, a $1.2 million program in Ann Arbor, Michigan, a $1.3 million pilot in Austin, Texas, a $449,400 trial in Philadelphia, Pennsylvania, and a $12 million guaranteed income campaign in Santa Clara County, California.

Despite the ongoing debate about the impact of basic income programs, early results from a pilot in Denver, Colorado have shown a decrease in rates of homelessness and food insecurity among participants, as well as an increase in shelter and employment rates.

In other news, according to a report sent via email by Deribit, a crypto derivative exchange, trading volumes for options are performing better than for perpetual and futures trading, which are currently struggling.

The Chief Commercial Officer of Deribit, Luuk Strijers, has attributed the increase in demand for options trading to the need for yield, particularly as they near expiration.