The “Guaranteed Income to Grow Ann Arbor” initiative of the Michigan Stimulus Update provides $528 per month to 100 small-business owners and entrepreneurs in Ann Arbor who are chosen at random.
Update on the $528 Monthly Stimulus in Michigan: Small Businesses and Entrepreneurs Will Receive Their Next Payment on February 15
The Poverty Solutions team at the University of Michigan began a two-year trial project in January, with funding provided by the government American Rescue Plan, totaling $1.6 million.
The next payment’s Michigan Stimulus Update is slated on February 15 and will be distributed on that day every month until 2025. The initiative strengthens the community by assisting those who are struggling financially.
Those who lived in Ann Arbor who were 18 years of age or older and earned less than 225% of the federal poverty limit qualified. It was probable that recipients of Supplemental Nutrition Assistance Program and Pell Grants would be eligible for the Michigan Stimulus Update. The program encompasses individuals in many industries such as entrepreneurs, small business owners, independent contractors, informal service providers, and gig workers.
Up to 2025, a Monthly Stimulus Will Increase Financial Flexibility
Kristin Seefeldt, deputy director of Poverty Solutions, highlighted how the program celebrates community efforts to long-term financial issues. In contrast to limited aid programs, beneficiaries of guaranteed income have the flexibility to distribute funds based on their needs, promoting self-respect and meaningful decision-making. Seefeldt, an assistant professor of social work and public policy at the University of Michigan, emphasized that recipients are free to utilize the money for savings, bills, or personal expenses.
The Michigan Stimulus Update on Guaranteed Income to Grow Ann Arbor encourages discussions about universal basic income (UBI) as a means of addressing economic inequality and providing assistance to those with low incomes. The program sets itself apart by providing financial support to small-business owners and entrepreneurs, recognizing their crucial role in the advancement of the community.
Running until 2025, the initiative is a practical test of how guaranteed income impacts people and the community while encouraging financial flexibility and self-determination.
