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CCFB News» December 2021

Farm Bureau Concerned about Guaranteed Basic Income Proposals

12/09/2021 @ 9:30 am

Cook County Farm Bureau® remains concerned about the financial implications of the guaranteed basic income proposals being discussed within local government circles. In general, guaranteed basic income provides monthly payments.

 

Proponents of the program say that the positive potential outcomes of guaranteed income may include: less income volatility, more mental stability, and the ability to find full-time employment. Whereas critics of the program argue that guaranteed basic income programs disincentive people to work.

 

While the details of Cook County’s and Chicago’s programs have not been released, existing Guaranteed Basic Income programs vary greatly. In Los Angeles, California the L.A. Economic Assistance Program (BIG: LEAP) will provide 3,000 city residents with a guaranteed income of $1,000/month for one year. Similarly, Saint Paul, Minnesota provides at least 150 families with $500 per month for up to 18 months.

 

Farm Bureau leadership and staff are investigating proposals and preparing to introduce policy regarding the issue. Members are encouraged to contact Bona Heinsohn at 708-354-3276 regarding this issue.

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