The Baltimore Young Families Success Fund| City to launch guaranteed income pilot program
Written by Naz Henderson with the SGJC Student News Network
(Baltimore, MD)—On Wednesday, Mayor Brandon Scott joined local officials and strategic partners to announce the Baltimore Young Families Success Fund, a guaranteed income pilot program.
The program will provide 200 young parents, between 18 and 24 years old, with an unconditional cash payment of $1,000 per month over 24 months to provide financial stability and reduce poverty.
Mayor Scott has allocated $4.8 million in American Rescue Plan Act funds that will be directly distributed to recipients. Costs for program administration will be funded through the Mayor's Office of Children and Family Success (MOCFS) as well as private and philanthropic donors, including CareFirst BlueCross BlueShield, The Annie E. Casey Foundation, the Abell Foundation, the France-Merrick Foundation, and The Zanvyl and Isabelle Krieger Fund.
Guaranteed income is designed as an unconditional monthly cash payment given directly to individuals and is meant to supplement, rather than replace, the existing social safety net.
It also provides a steady, predictable income to recipients to decide how to spend direct payments based on their personal needs.
The program is expected to significantly improve the quality of life for families in Baltimore City.
When families have a baseline income, they are more equipped to handle material barriers, reduce nutritional insecurity, pay for childcare, cover unexpected medical bills, and seek and retain employment.
The attached audio file is from a Two Way Talk segment with CASH Campaign of Maryland.