Residents of California city once known as 'America's foreclosure capital' are set to get monthly $500 stipend, with NO strings attached, in bid to boost local economy

DAILY MAIL

Stockton, California will become the first city in the country to participate in a test of Universal Basic Income, in which 100 residents will be given $500-dollars-a-month, with no strings attached.

The program aims to create a level of income that no one will fall beneath. 

By providing impoverished residents a regular sum of money that they can use on anything they wish, be it food, clothes, gas, or starting a new venture, those behind the program believe it could go a long way to give people enough support to try out new ideas.

The program in Stockton, which was once known as America's foreclosure capital, will see the program launched by 2019, and the payments will continue to the individuals chosen for the program for a full 18-months.

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