$250 stimulus check to be sent in 8 days.

A Guaranteed Income Program in New Jersey

A guaranteed income program in New Jersey is making a positive impact on the lives of its recipients. The next payment is scheduled to be issued in just over a week, on July 1st. This payment, worth $250, will benefit 200 out of the 400 recipients enrolled in the Newark Movement for Economic Equity program.

The program operates on a unique payment schedule. Half of the recipients receive smaller payments twice a month, while the other half receive larger payments once every six months. This approach ensures that the recipients have a consistent source of support throughout the year.

“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,”

– Kevin Callaghan, Newark Philanthropic Liaison

Kevin Callaghan, the Newark philanthropic liaison, expressed the positive impact of the program. The funds have been utilized to prevent evictions, aid in recovery from COVID-related hospitalizations, and stabilize families during economic hardships. The Center for Guaranteed Income Research at the University of Pennsylvania, the program’s research partner, will release formal results in 2024. Participants in the program complete detailed surveys twice a year, assessing various aspects of their well-being.

How Recipients Utilize the Funds

According to Callaghan, 41% of program participants spend the money they receive at retail stores, purchasing clothing, food, and other necessities. Another 26% choose to spend their funds at grocery stores. Additionally, 10% allocate their funds towards housing and utilities, while 9% utilize the money for transportation and car expenses.

The payment schedule varies based on the frequency of payments. Recipients who receive smaller payments twice a month can expect their payments on the 1st and 15th of each month. On the other hand, recipients who receive larger payments twice a year will receive their payments in May and October.

This program was initiated in October 2021 and is set to conclude this October, providing valuable support to those in need.

To be eligible for this program, applicants needed to be at least 18 years old and have an income that fell 200% below the federal poverty income threshold. All recipients were randomly selected to ensure fairness.

For more information about this program, please visit its website.

Click here to read more from the Washington Examiner.