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Saturday, June 25, 2022

Stimulus Check Update: Universal Basic Income Payments Offered

The UBI is a set of recurring stimulus check payments that individuals would be receiving from the government. The payments will be paid out every single month, several times a year, or just at one go annually. This idea has been the brainchild of entrepreneur Andrew Yang, who recently moved away from the Democratic party, which was at the forefront of his 2020 Presidential campaign. After this, Mr. Yang also floated the idea of providing a sum of $2,000 to half a million of the lowest-income residents of New York every year. As it goes, he didn’t win the election. 

Stimulus Check Payment Would Be Sent As UBI

When the pandemic was at its peak, the federal and state governments had come out with several Covid-19 stimulus check packages which were then passed on to Americans on the federal level. However, it was assumed that the payments would be a one-time thing, and not recurring. Instead, those who went about serving the purpose of helping citizens in need stimulate the national economy- by providing them with more money that would be spent during a financial downturn. 

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For quite some time now, Alaska has been providing its citizens with stimulus check payments under the Alaska Permanent Fund. The fund, which has been in existence since 1982, was readily designed to provide most of the state citizens with a portion of the state oil revenues. The sovereign wealth fund pays out annual dividends to most of its eligible citizens. In order to qualify, one must be an Alaska resident for around a year- but they wouldn’t be declared eligible if they have been convicted of state felonies. 

Most of the struggling dads of Columbia, South Carolina, will also be provided with recurring stimulus check support under the city program. Just the previous year, around 100 low-income fathers in Columbia received debit cards which were worth around $500.

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