Chicago residents to benefit from $42 million guaranteed income program

More than 3,000 residents in Cook County, Illinois will be receiving $500 a month for two years. It’s part of the $42 million Cook County Promise Guaranteed Income Pilot, funded by the American Rescue Plan Act. It is the largest publicly funded guaranteed income pilot in American history.

The application portal opened yesterday and will remain open until Oct. 21. Applicants must be at least 18 years of age, a resident of Cook County and have a household income at or below 250% of the federal poverty level. For example, an individual making less than $33,975 would be eligible. The Promise Pilot will send monthly payments of $500 to 3,250 residents for two years.

Cook County Commissioner President Toni Preckwinkle said he estimates 36% of cook county residents will be eligible to participate and that he encourages everyone who meets the requirements to apply. There is no benefit to applying early; after the application window closes, final participants will be selected at random.