Intense Debate: Michigan Will Pay Low-Income Small Business Owners $528 Per Month in 15 Days!
CNS News–In an innovative move to support low-income entrepreneurs, Michigan has launched a stimulus program that grants $528 monthly payments to selected small business owners in Ann Arbor. This initiative, named “Guaranteed Income to Grow Ann Arbor,” is spearheaded by the University of Michigan’s Poverty Solutions team and seeks to provide financial stability to those who contribute significantly to the community yet struggle to meet their basic needs.
The program, which commenced in January, targets 100 entrepreneurs who meet specific eligibility criteria, including residing in Ann Arbor, being at least 18 years of age, and having an income at or below 225% of the federal poverty line. This initiative is particularly aimed at individuals engaged in various capacities within the entrepreneurial ecosystem, such as small business owners, independent contractors, gig workers, and others providing paid services, either formally or informally.
Kristin Seefeldt, the associate director of Poverty Solutions and an associate professor of social work and public policy, emphasized the program’s objective to empower residents by providing them with financial autonomy. Unlike restricted aids like food stamps, this guaranteed income allows beneficiaries to allocate funds as they see fit, be it for bill payments, savings, or personal expenses, thus acknowledging and respecting their decision-making capabilities.
Stimulus update: Michigan to send monthly payments of $528 to low-income small business owners in 15 days https://t.co/5UqYGm47dz https://t.co/5UqYGm47dz
— Washington Examiner (@dcexaminer) January 31, 2024
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Scheduled to run over two years, the program promises a new paradigm in social welfare, focusing on dignity and self-determination for individuals at the economic margins. Payments are disbursed on the 15th of each month, adjusting for weekends and holidays, ensuring a steady stream of support for the entrepreneurs involved.