THERE isn't anyone that hasn't been affected by the rising cost of living that comes with increased inflation.
Now, some eligible Americans could qualify for direct monthly payments of $500 to help ease the burden.
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Cambridge, Massachusetts will soon launch a new guaranteed income program known as "Rise Up."
"RISE UP" PROGRAM
It builds on a previous city initiative - Cambridge RISE pilot. The city labels the program as having a "tremendous positive impact" on participants.
The original program gave eligible residents $500 per month for a year and a half.
Those same terms will apply to Rise Up, with the goal to address the "economic divide" and racial inequities in Cambridge."
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“The American Rescue Plan Act has provided the City of Cambridge a unique opportunity to develop this $22million program,” city manager Yi-An Huang said in a statement.
“There is a deep dignity to giving people the choice and power to decide what they need. For some it will be education. For others, it will be childcare or housing or food or a night out to relax..."
ELIGIBILITY REQUIREMENTS
Here's what you need to know about qualifying for the recurring benefit.
- You must live in Cambridge and have at least one child that's 21 years of age or younger.
- Applicants must be 18 years or older
- Households must have income that's 250 percent of the federal poverty level, which is as follows:
- Family of two: $49,300
- Family of three: $62,150
- Family of four: $75,000
- Family of five: $87,850
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City officials have said it will be the first city in the country to "introduce a non-lottery program."
All eligible families will be able to claim the $500 in monthly payments.
TIMELINE TO APPLY
In order to be considered, applicants will need to apply online. A portal will open on June 1 and close after July 31.
After applying, you will receive a confirmation text or email that includes a link to view the status of your application. Initial payments will begin on June 30, according to the city.
"Participants will be approved on a rolling basis," program officials said in its frequently asked questions section.
Those deemed eligible to participate will not need to report the money as taxable income.
About 2,000 people are eligible for the program that will provide much needed relief for many as inflation continues to be sticky.
MORE GUARANTEED INCOME NEWS
While Cambridge residents wait for applications to open, you might be eligible for a guaranteed income program if you live outside the city.
This includes the expansion of an initiative in Rochester, New York which is being run by music and arts organization Local Sound Collaborative.
To qualify, you must be a part of the local music community in the Greater Rochester area.
This includes studio musicians, production engineers, and sound technicians, among other roles.
You also must be at least 18 years old to participate.
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Those eligible can apply online until June 3 at 11.59pm for the $200 in monthly support.
Plus, here's more on a direct payment plan in Minnesota that will offer up to $1,300 in tax relief payments to those who qualify.
