A US city will be distributing a total of $12,000 in financial assistance to qualified residents as part of a local guaranteed basic income program.

The city of Richmond in Virginia says that starting May 27th, residents can apply for the fourth cohort of the Richmond Resilience Initiative (RRI) Guaranteed Basic Income (GBI) program.

For this batch, the RRI will focus on supporting single parents, including guardians with custody, step parents, foster parents and other primary household caregivers. The city says eligible beneficiaries will receive $500 per month for 24 months with no strings attached.

The RRI aims to improve financial stability among working families. The city says the program is part of a growing national movement that seeks to demonstrate the power of direct, unrestricted cash assistance in helping families attain greater financial independence and reduce stress.

According to Richmond’s Office of Community Wealth Building (OCWB), those who participated in the RRI program used their monthly payments to meet essential needs, pay debts, invest in education and create stability for their families.

Says Richmond Mayor Danny Avula,

“The Richmond Resilience Initiative reflects our ongoing commitment to creating a city where families have the stability and support they need to build a better future. This is about trust, dignity, and ensuring our residents have the resources to move forward with confidence.”

The application is open until June 30th.

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A US state is preparing to hand billions of dollars to residents in its first-ever “inflation rebate” program.

New York’s Governor and state lawmakers say they’ve agreed on a budget framework that includes $2 billion for inflation refund checks to over eight million taxpayers.

The plan targets New Yorkers who filed taxes, are not claimed as dependents and earn below $150,000 annually.

Eligible joint filers earning up to $150,000 will receive $400, while those earning between $150,000 and $300,000 will get $300.

Single filers and heads of household earning up to $75,000 will receive $200, and those earning between $75,000 and $150,000 will get $150.

No application is needed and checks will be issued automatically using recent tax filings once the budget is passed and signed into law in about a week from today.

New York’s Democratic Governor Kathy Hochul says the rebates as a response to inflation-driven costs, reports News10 ABC.

“I can’t stop inflation, but everyone across the state paid more because inflation drove up prices.”

But the program has its critics.

Democratic Assemblymember Phil Steck says such programs are gimmicks, arguing for long-term tax relief or other spending priorities.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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