Guaranteed Income
Building the next economy
Guaranteed income is a type of cash transfer program that provides regular, unconditional, and unrestricted payments to individuals or households. Guaranteed income may be targeted toward people below a certain income level and is seen as an instrument to help alleviate poverty. A guaranteed income is different from a universal basic income, which is also unconditional, but is not targeted and is for everyone.
What is a guaranteed income?
According to the Jain Family Institute Guaranteed Income Toolkit, key components of an evidence-based guaranteed income program are cash transfers that are:
- unconditional
- unrestricted
- recurring on a regular basis
- in tandem with other safety net programs
The importance of protecting benefits
In tandem with other safety net programs means that the money received from a guaranteed income pilot not be used to reduce an individual’s public benefits, such as Supplemental Nutrition Assistance Program (SNAP) or Medicaid. It is important for…
