Thanks to the debut of a new guaranteed income program in New York City, particular moms are set to see a significant increase in their income. Thus, they came up with The Bridge Project.
The Bridge Project is a three-year program that gives moms of infants and expecting mothers $500 or $1,000 per month via coronavirus stimulus check.
New Way to Provide Funds to People
The program’s launch comes when the US is trying new ways to distribute funds to Americans in the wake of the COVID-19 outbreak. It includes three waves of one-time federal stimulus checks in this.
Also, it provides monthly child tax credit payments of up to $300 per child. However, those checks ended this month.
According to CNBC, the project aims to eliminate inequality by providing unconditional cash to participants. The first 100 mothers started getting payouts in July of last year.
About half of the participants are African-Americans, and the other half are Latinos. One in every five of them is unregistered. They live in Manhattan’s Central Harlem, Inwood, and Washington Heights districts.
In April, the project will begin recruiting for the second cohort of 500 pregnant first-time mothers, this time focusing on Manhattan’s East Harlem, as well as the Central and South Bronx.
About The Bridge Project
The Bridge Project is New York City’s first income-guaranteed program. The Monarch Foundation, a private, non-profit family foundation, started in June 2021. The program’s primary goal is to assist low-income moms in the city during their children’s first 1,000 days of life.
To reach qualified families, project officials enlist the support of community partners. The Bridge Project collaborates with the University of Pennsylvania’s CGIR (Center for Guaranteed Income Research). As per research conducted by the Bridge Project, up to 60% of NYC newborns and young children under three are living in poverty.
Read More About:
Credits for Recovery Rebates: A Great Way to Make Up for Missed Stimulus Payments
IRS made mistake by allowing 36 states make their own rules, according tax expert