The global pandemic has shown the incredible gaps in U.S. economic disparities between everyday people and ultra millionaires and billionaires. Before the pandemic, studies found that nearly 40% of Americans could not afford a single $400 emergency.

During the pandemic, people have lost their jobs and housing while billionaires have become $1.3 trillion richer and we have 46 new billionaires.

More needs to be done to make sure we all benefit from the economy we are helping to build; a Guaranteed Basic Income.

The studies are out and it’s clear that Guaranteed Basic Income works! The city of Stockton, CA piloted its own Guaranteed Income project, giving 125 residents $500 a month for 2 years. The results showed that people used the extra income for basic necessities such as food, paying off debt, and utilities. Participants also were more likely to have full time jobs and showed significant improvements in mental health wellness.

These findings are not surprising. The premise of Guaranteed Income is that all folks have the fundamental right to have their basic needs met. In our current economy, this is not the case for many who work full time jobs and more. Guaranteed Income means those who fall below a certain income threshold would receive additional income, every month. No strings attached.

We know that a disproportionate number of people experiencing significant income precarity in the U.S. are people of color, especially women of color. Our current economy is designed for a large portion of the population to live in this precarity. Guaranteed Income is one piece of redesigning the system so that it works for the people. It is an important tool for addressing racial and gender equity.

Mayors for Guaranteed Income founded by former Stockton Mayor Michael Tubbs has called upon the Biden Administration and Congress to pass monthly stimulus checks until the economy recovers from the pandemic and is dedicated to achieving a permanent Guaranteed Income nation-wide. Join them in their call to our Leadership.