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New Cook County income program will provide some residents with $500 monthly

New Cook County pilot program will provide some residents with guaranteed income
New Cook County pilot program will provide some residents with guaranteed income 00:31

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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