Illinois residents of Cook County could receive $500 per month in cash for two years, and applications are now open.
Applications for the Cook County Promise Guaranteed Income Pilot program are open from now until Oct. 21. The application opened Thursday.
The $42 million program is funded by the American Rescue Plan Act as part of the Biden administration’s efforts to provide direct relief to those who faced setbacks during the COVID-19 pandemic.
To be eligible for Cook County’s program, residents must live in the county and be at least 18 years old. They also cannot be in another guaranteed income program and must have a household income at or below 250% of the federal poverty level.
STIMULUS UPDATE: DIRECT $487 PAYMENTS BEING SENT OUT FROM WEDNESDAY FOR MORE THAN 1 MILLION PEOPLE
For a household of four, that income is about $69,375. Residents can add or subtract $11,800 per household member to determine their income eligibility.
“At a national scale, a program like the Promise Pilot would bring economic stability and independence to millions of families, many for the first time in their lives, and has the potential to shift the trajectory of entire communities, as evidenced by dozens of direct cash studies that have taken place since the 1960s,” the program website said.
The payments will come in cash — something Cook County Board President Toni Preckwinkle believes is a smarter option.
“Decades of research shows that people spend cash benefits wisely, leading to more financial stability as well as improved physical, emotional and social outcomes,” Preckwinkle said in a statement. “At Cook County, we respect all our residents no matter the size of their bank accounts.”
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This follows other financial assistance programs in the state. All Illinois residents have 10 days to claim up to $700 in tax rebates.
