New Jersey residents to receive $250 stimulus check in 3 days.

New Jersey Residents to Receive Next Payment from Guaranteed Income Program

In just three days, residents of New Jersey will receive their next payment from the groundbreaking guaranteed income program. This eagerly anticipated payment, scheduled for July 1, will amount to a generous $250. It will benefit 200 out of the 400 recipients enrolled in the transformative Newark Movement for Economic Equity program.

Universal Basic Income Payments: Examining the Impact

Under this innovative initiative, half of the recipients receive smaller payments twice a month, while the other half receive larger payments once every six months. This unique approach aims to provide ongoing support and stability to individuals and families in need.

“We’ve helped people to avoid eviction, supported residents to get back on their feet after being hospitalized with COVID, provided funds for families to stabilize themselves during great economic turmoil, putting clothes on their kids’ backs,” said Kevin Callaghan, the Newark philanthropic liaison.

Formal results of the program’s impact will be released in 2024 by the esteemed Center for Guaranteed Income Research at the University of Pennsylvania. Participants in the program complete comprehensive surveys twice a year, evaluating various aspects of their well-being, including physical health, mental health, financial security, and housing stability.

To be eligible for this life-changing program, applicants needed to be at least 18 years old and have an income that fell 200% below the federal poverty income threshold. The selection of recipients was entirely random, ensuring fairness and equal opportunity.

Recipients who receive smaller payments twice a month can expect their next payments on the first and 15th of the month. Conversely, those who receive payments twice a year will receive their next payments in May and October.

According to Callaghan, approximately 41% of program participants utilize their payments at retail stores to purchase clothing, food, and other essential items. Another 26% allocate their funds towards groceries, while 10% prioritize housing and utilities. Transportation and car expenses account for 9% of the expenditure.

To learn more about this remarkable program and its impact, click here to visit the Washington Examiner.

This transformative program was launched in October 2021 and is set to conclude in October 2023. For additional information, please visit the program’s official website.