Atlanta City Council adopts children’s savings account and guaranteed income programs

Atlanta City Council has approved a children’s savings account program and pilot guaranteed income legislation pushed by Mayor Keisha Lance Bottoms.

The Children’s Savings Account Program offers a one-time deposit of $ 50 into an education savings account for Atlanta public school kindergarten children from low-income households.

Beneficiaries of a savings account must meet the program’s criteria focused on family income and equity. Atlanta donates $ 2 million to Operation HOPE, Inc. to establish the program.

“The children’s savings account program is an investment in our children, their families and the future of our city,” Bottoms said. “I made this pledge during my campaign and am grateful for delivering it to families in Atlanta. By creating long-term kindergarten savings accounts, our administration is helping to strengthen the trajectory of students most in need of financial support to pursue their dreams of higher education. “

The guaranteed income pilot program, titled “IMPACT” (Income Mobility Program for Atlanta Community Transformation), aims to provide 300 Atlanta residents who are at least 18 years of age and living under 200 % of the federal poverty line guaranteed income of $ 500 per month. during the 12 month pilot period.

The city will donate $ 2 million to the Urban League of Greater Atlanta to start the pilot program. Urban League will also receive $ 500,000 in Mayors for a guaranteed income to support the program.

“IMPACT is another major step towards our vision of One Atlanta – a more equitable, affordable and resilient city,” said Mayor Keisha Lance Bottoms. “This pilot program is an innovative solution to the widespread economic insecurity and income inequalities that exist across the country and it is a bold investment in our most underserved communities.”

WATCH: LIVE COVERAGE OF FOX 5 NEWS

_____

GET FOX 5 NEWS EMAIL ALERTS

DOWNLOAD THE FOX 5 ATLANTA APP


Source link

Julio V. Miller