Mayor Ras J. Baraka today (Monday) launched the Newark Movement for Economic Equity, a two-year pilot program that will give a guaranteed income of six thousand dollars a year in unconditional cash payments, to Newark residents.
Newark’s pilot will be one of the nation’s largest in collaboration with Mayors for a Guaranteed Income.
The city will start with an initial cohort of 30 residents before scaling to 400 residents by the fall. Baraka says at the end of the pilot, Newark officials will review their findings in an effort to expand guaranteed income policy at the state and federal levels.
“The system endemically creates poverty and people who will live in poverty, and we need to offset that, and that’s what the guaranteed income is about. W think that the government has it right now with stimulus checks and if they continued that in perpetuity in a very systemic way then the guaranteed income palate would be a reality.”
Those selected must be at least 18 and have an income level that is 200% below the federal poverty limit; to finance the program the city has identified $2.2 million in private funds to date, led by the Victoria Foundation.
