The Denver Basic Income Project (DBIP), one of the largest guaranteed income programs in the US, is about to distribute more cash to its participants. According to the Colorado Newsline, the DBIP is extending its pilot program for an additional six months and will provide up to $1,000 to 660 selected individuals who are part of the expansion.

Initially, the program chose 800 beneficiaries and divided them into three groups. The first group received $1,000 per month for a year, the second group received a one-time payment of $6,500 followed by $500 for 11 months, and the final group, known as the control group, received a flat $50 per month for a year.

With the program expansion, the control group participants will receive an additional $100 for six months, while members of the other two groups will receive an extra $1,000 per month for half a year. The funding for this six-month extension will be provided by the Denver City Council.

The decision to supplement the program came after an interim study revealed that participants experienced positive changes in their lives after receiving financial assistance for six months. The study showed that all three payment groups reported significant improvements in various aspects of their lives, including housing, financial well-being, sense of safety, and overall mental health.

Mark Donovan, the founder and executive director of DBIP, stated, “Many participants mentioned that they used the money to pay off debts, fix their cars, secure housing, and enroll in educational programs. These are all paths that could potentially lift individuals out of poverty and reduce their reliance on social support programs.”

In conclusion, the DBIP is expanding its pilot program, providing additional financial support to its participants based on the positive impact observed during the initial phase. This move aims to empower individuals and potentially improve their overall well-being and financial stability.