As Americans are crushed by affordability, mayors push cash handouts as the answer in growing trend
The Economic Securities Project argues cash assistance works best during life transitions as mayors scramble to replace expiring ARPA pandemic aid.
TL;DR
- The Economic Securities Project (ESP) advocates for guaranteed income programs due to the affordability crisis, citing increased urgency to provide cash to communities.
- ESP's director of cash initiatives, Shafeka Hashash, stated that cash assistance offers stability, supports economic mobility, and helps families achieve financial security.
- The organization's report, 'Right on Time: How Cash Helps Families Move Through Life’s Transitions,' suggests that cash assistance is most impactful during periods of personal or financial hardship and life transitions.
- Mayors across the nation are seeking to institutionalize cash handout programs as federal pandemic aid (ARPA funds) nears its spending deadline.
- ESP recommends that local and state governments establish dedicated revenue streams from local taxes to fund guaranteed income programs.
- California leads the nation in pilot programs, and ESP's state affiliate, Economic Security California, is working to establish state-funded initiatives.
- The trend involves moving beyond donor funding and emergency stimulus to find sustainable, tax-funded solutions for cash assistance programs.