New York State Will Give Thousands of Artists $1,000 a Month Via a New Assured Income Plan

There are no requirements for artists in New York who want to get paid $1,000 a month for their work. A $125 million initiative, Creatives Rebuild New York, is being launched by the Empire State to provide artists more time and flexibility to concentrate on their work without the distraction of financial instability.

Artists must show that they need financial assistance to be eligible for the funds. In all, 2,400 persons will be enrolled in the program and earn a stipend due to the initiative. Another 300 artists will be hired by community groups, earning $65,000 per year.

It describes itself as software that creates investing instabilities. “Artists need and deserve to be compensated with stable and regular earnings,” according to the website.

Essentially, the program is another trial in guaranteed income, and it is a cousin of universal basic income in concept (aka UBI).

However, although both policies have been in place for decades, they are once again gaining mainstream acceptance, thanks to the coronavirus pandemic, which has exacerbated financial difficulties for millions of Americans and the support of outspoken political candidates such as Andrew Yang.

The concept is straightforward: hand away cash to everyone who requests it, with no limitations or constraints. The difference between universal basic earnings and secured income is that the former typically distributes cash to large groups, whereas the latter does not. Meanwhile, the latter is often aimed at certain groups, such as artists or low-income individuals.

Proponents claim that providing a financial cushion to aid with basic requirements and unexpected costs may reduce poverty and narrow the wealth gap.

Among many other advantages, this decreases stress and makes it simpler to remain out of debt, among other things. In opposition, they argue that such measures are prohibitively costly, undercut existing social assistance programs, and prevent individuals from engaging in the job market.

Similar programs have been implemented in other states and municipalities. Similarly, San Francisco and St. Paul, Minnesota, provide artists with guaranteed income programs, while the city of Columbia, South Carolina, is pioneering a program that will provide dads with $500 per month for two years.

Durham, North Carolina, maintains a guaranteed income program for those jailed in the past.

Stockton, California, piloted a program in 2018 that offered $500 per month to some of the city’s lowest-income inhabitants, with research showing that participants’ employment chances and health were eventually better as a result of participating. A similar scheme is also being implemented in Newark, New Jersey.

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In addition to the COVID-19 stimulus cheques and advance monthly payments of the increased child tax credit, the federal government has lately implemented the guaranteed income idea on a far bigger scale via various programs such as the Earned Income Tax Credit.

According to a December research by Bloomberg CityLab, at least 20 guaranteed income schemes have been implemented around the country during 2018. According to the same study, monthly payments of up to $1,000 are currently being received by more than 5,400 individuals and family members.

The deadline for submitting New York’s new program applications is March 25th. The names of those who will be participating will be released in June.