DENVER — For the past eight months, hundreds of people experiencing homelessness in Denver have been receiving monthly payments with no rules on how to spend the money and with no obligation to pay it back.
The philosophy called “universal basic income” became Andrew Yang’s talking point when he ran for president in 2020. The former Democrat pushed for the program in Denver this week.
“I’ve met people who have benefited directly from these programs. It's really invigorating and heartwarming,” Yang told 9NEWS this week while pushing for the new Forward Party.
Yang was in Denver to share his support for a basic income the city has funded with COVID-19 relief money.
Denver’s city council voted to give the nonprofit Denver Basic Income Project $2 million late last year as part of a pilot program that will run through the end of 2023.
The University of Denver is currently researching the program to monitor the impact of unconditional money for people in hardship.
“When you approach people and start with, ‘We believe in you, we trust in you,’ and then provide unconditional cash, it creates a dynamic in which people are taking actions that they might not otherwise,” Denver Basic Income Project founder Mark Donovan said.
According to the program, 805 people are currently receiving monthly payments, with some getting up to $1,000 per payment for a year.
More than 30 other cities have experimented with a basic guaranteed income for people who need help, with some studies indicating the program can help people not only with stable housing, but with improved physical and mental health.
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