New Cook County income program will provide some residents with $500 monthly
CHICAGO (CBS) -- A landmark guaranteed income program was announced Wednesday for people living in Cook County.
The $42 million "Cook County Promise" pilot program is being billed as the largest of its kind in the country.
The program works like this – 3,250 residents will receive monthly payments of $500 for two years.
Applications to participate in the pilot will open this fall.
The pilot will be funded by money from the American Rescue Plan Act -- also known as "ARPA"
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