Javier Hernandez Jack Dorsey, the co-founder of Twitter and incumbent CEO of Square Inc., has donated $1 million to inaugurate a guaranteed basic income pilot scheme in St. Louis, Missouri, his birthplace. The city revealed that the program will distribute monthly payments of $500 for a span of 18 months to selected participants.
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Dorsey’s Financial Support Amplifies St. Louis’ Basic Income Initiative
St. Louis officially rolled out its Guaranteed Basic Income (STL GBI) Pilot Program earlier this week, with the primary objective of alleviating poverty within its jurisdiction. Jack Dorsey’s donation serves as a significant financial catalyst for this pioneering social welfare initiative. The program’s launch followed the signing of Board Bill Number 116 (BB116) by St. Louis Mayor Tishaura Jones last December. This legislation, championed by Alderwoman Shameem Clark Hubbard, paves the way for Missouri’s first-ever guaranteed basic income initiative.
Originally, the city intended to enlist 440 families in the program. However, Dorsey’s substantial donation allows for the inclusion of an additional 100 families, bringing the total number of beneficiaries to 540.
Jack Dorsey’s philanthropic endeavor, known as the #startsmall initiative and supported operationally by the Deaconess Foundation, has allocated the $1 million to expand the program’s reach.
Eligibility Requirements
To qualify for the program, applicants need to fulfill a set of specific prerequisites: they must be residents of St. Louis, have a child or dependent under the age of 18 enrolled in a public school, earn a combined household income not exceeding 170% of the federal poverty line, and have experienced adverse financial effects due to the COVID-19 pandemic, such as job loss or escalated childcare expenses.
National Context
St. Louis now joins a growing list of over 30 U.S. cities that have launched their own basic income experiments. Mayor Jones expressed enthusiasm for the program, stating, “St. Louis is taking part in this innovative approach to economic empowerment, which aims to uplift families from poverty.” She further acknowledged how Dorsey’s contribution enhances the program, allowing it to extend its impact on more households.
According to the city’s official statement, a lottery system will be employed to choose prospective participants, who will then be required to submit financial documentation and proof of residency in St. Louis. Upon verification, eligible applicants will be enrolled on a first-come, first-serve basis to receive the $500 monthly stipend for a period of 18 months.
What are your thoughts on Jack Dorsey’s $1 million donation to boost St. Louis’ basic income pilot? Please share your views in the comments section below.
Frequently Asked Questions (FAQs) about Guaranteed Basic Income Pilot
What is the purpose of the Guaranteed Basic Income (STL GBI) Pilot Program in St. Louis?
The STL GBI Pilot Program aims to combat poverty in St. Louis, Missouri, by providing selected residents with a monthly payment of $500 for a period of 18 months.
Who is financially supporting the St. Louis Guaranteed Basic Income Pilot Program?
The program has received a $1 million donation from Jack Dorsey, co-founder of Twitter and current CEO of Square Inc., to support its launch and to extend its reach to additional participants.
How many families are expected to benefit from the program?
Originally, the program intended to enroll 440 families. However, Jack Dorsey’s donation will allow for the inclusion of an extra 100 families, making the total number of participants 540.
What are the eligibility criteria for this program?
To be eligible for assistance, applicants must meet specific criteria: they must reside in St. Louis, have a child or dependent under 18 enrolled in a public school, have a combined household income below 170% of the federal poverty level, and demonstrate negative financial impacts due to the Covid-19 pandemic.
How will participants be selected?
Participants will be selected initially through a lottery system. Following that, they will be required to submit financial documentation and verification of residency in St. Louis. Eligible applicants will be enrolled on a first-come, first-serve basis.
Is this the first program of its kind in Missouri?
Yes, following the signing of Board Bill Number 116 (BB116) by St. Louis Mayor Tishaura Jones, this becomes the first guaranteed basic income program in the state of Missouri.
How does St. Louis’ initiative compare to other U.S. cities?
St. Louis joins more than 30 other municipalities across the United States in initiating a basic income pilot program aimed at poverty alleviation and economic empowerment.
What is Jack Dorsey’s #startsmall initiative?
The #startsmall initiative is Jack Dorsey’s philanthropic endeavor that focuses on various charitable activities, including poverty alleviation. This initiative has contributed $1 million to the St. Louis program.
How long will the program last?
The program is designed to last for 18 months, during which participants will receive a monthly payment of $500.
What are the next steps for applicants after the lottery selection?
After being chosen through the lottery, applicants will be invited to submit required financial documentation and proof of St. Louis residency. Once verified, they will be enrolled on a first-come, first-serve basis to receive the monthly payments.
More about Guaranteed Basic Income Pilot
- St. Louis Official Announcement on GBI Pilot
- Jack Dorsey’s #startsmall Initiative
- Board Bill Number 116 (BB116) Information
- Square Inc. Official Website
- Twitter Official Website
- Deaconess Foundation
- Federal Poverty Level Guidelines
- Basic Income Programs in the U.S.
- Mayor Tishaura Jones’ Office
10 comments
Gotta say, this is impressive. But why only St. Louis? Hope this kinda thing spreads nationwide.
STL represent! Finally some good news for our city. Let’s see how it pans out.
It’s interesting to see tech leaders getting involved in social issues. more of this pls
Wow, Jack Dorsey’s putting his money where his mouth is. A million dollars is no joke. Hoping to see some real change here.
what’s the long term plan here? 18 months of support is great but what happens after that?
eligiblity seems too limited, what about people without kids? they struggle too ya know.
umm, is this really gonna solve poverty or just put a bandaid on it?
Just read about BB116, interesting legislation. Curious to see the results of this pilot.
Hats off to Dorsey, but what about other CEOs? Time for them to step up too.
i like that they have specific criteria for eligibility. Makes it less likely to be abused.