Garcetti Proposes Guaranteed Income for Poor Residents

Bloomberg: “Los Angeles Mayor Eric Garcetti is proposing a guaranteed income program for poor residents, making it the largest U.S. city to test such a policy.”

“Garcetti will ask the City Council on Tuesday to set aside $24 million in next year’s budget to send $1,000 monthly payments to 2,000 low-income families in America’s second-largest city, the mayor said in an interview. Funds from council districts and other sources could bring the total to $35 million.”