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UBI success in Colorado

People experiencing homelessness in Denver, Colorado, benefited from a Universal Basic Income (UBI) program sending out up to $6,500 to recipients in 2022.

A half year after the program was implemented, the city released a mid-term report.

The report returned several successes.

Massachusetts residents to get $500 monthly checks

The city of Worcester, Massachusetts, has created a pilot universal basic income (UBI) program to help struggling families make ends meet.

The Worcester Community Action Council (WCAC) announced that it was awarded $250,000 from the City of Worcester American Rescue Plan Act funds to launch the program.

Fifty-two low-income households will be selected to participate over a two-year period.

The council will offer $100 to $500 in monthly payments based on the family’s or individual’s needs.

Participants will also get financial coaching to help them use the money smartly.

Mattress Firm sending out payments under settlement

Mattress Firm customers who bought a bed frame from the company between April 8, 2015, and April 8, 2021, could join a class action lawsuit.

The company agreed to pay a $4.9million settlement to customers who bought Bed Tech’s HR Platform bed frames from the retailer.

Eligible beds have the model number HR33, HR33XL, HR46, HR50, HR60, or HR66.

The plaintiffs in the suit allege that the beds were defective and can cause injury.

While Mattress Firm has not admitted wrongdoing, it did agree to settle the claim.

Additionally, Global Home Imports, the importer of the beds, recalled all of the products in 2021 after 100 reports of it collapsing.

Minnesota to get e-bike rebates up to $1,500

The Transportation Ombnibus Bill, passed in Minnesota, allots up to $1,500 in rebates for eligible residents.

CBS News reported that the legislature passed the bill in May and residents can now apply for the payment.

Rebates will be worth between 50 percent and 75 percent of the bike, up to $1,500.

Guaranteed income approved in Michigan

The Ann Arbor City Council in Michigan has approved a guaranteed basic income program that will offer residents $527 per month for two years.

It is made possible thanks to the use of $1.6million in funds that were allocated from the American Rescue Plan Act, which was signed into law by President Joe Biden in 2021.

To launch the program, the city is partnering with the University of Michigan.

“Guaranteed income programs are flourishing across our country, and they are proving to be an impactful tool to combat generational poverty, Mayor Christopher Taylor said in a statement.

The program, which will give 100 residents monthly payments worth $530, will have income restrictions. To be eligible, your income must be no more than 300 percent of the federal poverty level.

Also, you must identify as a “low and moderate-income entrepreneur,” according to Ann Arbor.

Relief proposed on the federal level

Representative Ro Khanna of California and Senator Sheldon Whitehouse of Rhode Island introduced a bill that would “hold Big Oil accountable for excess profits.” 

Specifically, it aims to give Americans an estimated $255 each year and joint filers $382.

The money would be funded by imposing a tax on oil companies.

The tax would be 50 percent of the difference between the cost of a barrel of oil today and the average price of a barrel between 2015 and 2019.

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