An ANNUAL payment has been rolled back to all residents of a state.
This year, the checks are worth $1,655.
Alaska has approved an annual payment to all residents as part of its Permanent Fund Dividend (PFD).
Since 1982, The Last Frontier has provided its citizens with a universal, no-strings-attached windfall every year.
The money comes from oil and mining revenues from the state-owned Alaska Permanent Fund Corporation.
It is written into the Alaska constitution that residents will receive their payment every year.
Although the amount fluctuates from year to year, lawmakers set approximately $1,650 per beneficiary for 2024.
Alaskans will receive their checks in the fall.
This is an increase from last year’s dividend, which was $1,312.
It helps residents offset the high cost of living in the state.
Many economists consider the Alaska Permanent Fund to be the only example of universal basic income in practice.
Universal basic income (UBI) is a social welfare proposal in which all citizens of a given population regularly receive a minimum amount of money without means testing.
MORE ABOUT UBI
Guaranteed income is becoming increasingly widespread in the US, with many cities and counties maintaining their own programs.
The idea of giving money without strings attached to all citizens dates back to Julius Caesar, who gave all ordinary Roman citizens 100 denarii.
In the mid-20th century, Presidents Lyndon B. Johnson and Richard Nixon expressed support for guaranteed income, but no legislation was passed.
Only with the Covid-19 pandemic did funds made available by the American Rescue Plan Act allow cities across the country to offer guaranteed income programs.
Alaska Permanent Fund Payments
The amount the permanent fund pays varies from year to year
- 2024 – US$1,650
- 2023 – US$1,312
- 2022 – $3,284
- 2021 – $1,114
- 2020 – $992
- 2019 – US$1,606
- 2018 – US$1,600
FREE MONEY PROGRAMS
Applications are now open for a guaranteed income program in Evanston, Illinois.
150 families will be selected to receive US$500 per month for one year.
To apply, residents must live in a specific area that was previously marked during the Jim Crow era.
They must also have a family income at or below 184% of the Federal Poverty Line and a child aged five or younger.
A similar program in Fresno, California, distributes $500 checks every month.
Or see if you owe a one-time payment of $500 for spoiled food.
This story originally appeared on The-sun.com read the full story
