Newsbreak: New York Bill Proposes $1,000 Monthly Payments to New Parents – A Guaranteed Income Program Aimed to Alleviate Rising Childcare Costs!

A proposed bill in New York State aims to provide a guaranteed income program for families. Senator Jessica Ramos introduced the legislation to help new parents who face high costs of raising a child. According to a report by The US Sun on March 16, 2023, the bill proposes eligible parents receive monthly payments of $1,000 for a year, beginning in the last three months of pregnancy and the first nine months after the child’s birth. In the last nine months of the program, parents would receive $500 per month.

To qualify for the program, applicants must provide proof of income that meets 200% of the federal poverty level and show dates of work and annual pay. The bill has multiple co-sponsors, including Republican state Senator Jacob Ashby, and is designed to provide assistance during times of inflation and rising interest rates that make it difficult for families to cover basic necessities.

Similar programs are already underway in other states. Artists in Minnesota impacted by the pandemic are set to receive their first $500 check this month, while residents in California can claim $800 in monthly payments if they meet certain income and location requirements.

Ohio residents in Yellow Springs and Miami Township will receive a total of $7,200 in payments over 24 months, with a second round of applications set to launch in the summer. While the New York program is not yet guaranteed to pass, it is hoped that it will help families cover the high cost of childcare, which rose 41% during the pandemic, and the total cost of raising a child, which has increased to over $300,000, according to The US Sun.