AN American city is rolling out a Guaranteed Basic Income program.
The program aims to help families facing financial hardship.
GettyQualifying families will receive checks up to $750 a month as part of the new program (stock image)[/caption]Albuquerque, New Mexico will provide low-income families with monthly payments, and no strings attached.
The initiative is modeled after a similar program launched in Santa Fe three years ago.
It is designed to invest directly in residents’ well-being and economic mobility.
“Most people want to improve their situation. Most people want to have a better life. It’s really the system that keeps people in the situation that they are in,” said UpTogether Southwest Partnership Director Ivanna Neri.
“This shows when you trust and invest in people, people then are able to do better.”
UpTogether had previously partnered with local nonprofits and a California-based organization to support 330 families across New Mexico in 2022.
The nonprofit provided each family with $500 a month for a year.
That effort proved successful, providing a 35% decrease in rent paying difficulty and a 9% increase in children completing their grade level or graduating.
It also reduced unstable work schedules among families.
Neri emphasized that unrestricted cash can help families achieve critical life goals.
“So people who might be wanting to advance their education or might be wanting to just get into a better job, this is the type of investment that’s really helpful for them as they try to move to the next step,” she said.
Albuquerque’s new Guaranteed Basic Income (GBI) program will focus on families of students attending disadvantaged public schools.
The first cohort will include 80 households, each of which will receive $750 per month for three years.
“What this approach offers is efficiency and also the impact that people are best positioned to make the decisions and choices that work best for themselves and their families,” Neri added.
The initiative is funded by the Cannabis Equity Reinvestment Solution.
Cannabis Equity Reinvestment allocated over $4 million from marijuana tax revenues to fund the program.
These funds are aimed at helping families meet basic needs such as housing, child care, and food, while also reducing stress and enabling long-term planning.
“So some of the things that we learned as we have been exposed not only to the work in New Mexico, but really across the country, is that cash helps stabilize people when it comes to housing, reducing stress, staying in school, caring for children, and covering basic needs,” said Neri.
In addition to financial support, families will also receive guidance through financial counseling provided by the city’s Office of Financial Empowerment.
City leaders say this dual approach of direct cash and education will help ensure families can build and maintain financial security over time.
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