Nearly half of all American households have experienced serious financial trouble as a result of the COVID 19 pandemic. Even prior to the pandemic, nearly 40 percent of Americans did not have enough savings on hand to cover a $400 emergency. We also know that the economic impacts were not felt equally with individuals working in low-wage jobs, Black and Latinx workers and women being disproportionately impacted.
One time financial assistance was helpful, but not enough. Since the pandemic national awareness and execution of longer-term solutions such as guaranteed income have grown. Individual GI programs have spouted up all over the country. In fact over 50+ mayors have joined a national initiative Mayor’s for Guaranteed Income (MGI). With longer-term structural solutions that address racial equity continuing to be our north star, many advocates and practitioners now believe the moment has arrived for a guaranteed Income with an equity lens.
On May 25, 2021 we heard perspectives from a diverse group of thought leaders involved in GI initiatives including practitioners, government representatives and philanthropy. Panelists shared outcomes and new research results from some of the most successful GI pilots in the country (Stockton and Mississippi); goals for the newly launched Mayor’s for Guaranteed Income; how philanthropy can play a catalytic role and what this moment tells us about the future of guaranteed income initiatives.
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