Jack Dorsey, the billionaire CEO of Twitter and Square, is donating $3 million to help fund Mayors for a Guaranteed Income (MGI), a new coalition of 15 mayors across the country who want to explore the idea of universal basic income — a recurring payment to residents — in their cities. Forbes reports: The coalition was created on June 29 by Michael Tubbs, the 29 year-old mayor of Stockton, California, who has been running a guaranteed income pilot program in his city since the winter of 2018. The majority of the gift will help the mayors create pilot programs for universal basic income (UBI) in their cities, which include Newark, Atlanta, Seattle, Los Angeles, Compton, Long Beach, Pittsburgh, Oakland and more. The rest of the money will go to a new pilot program in Stockton, which Tubbs will announce in the fall.
For now, the roster of mayors in MGI are moderate to liberal-leaning, but that will soon change. Dorsey is making the donation from #startsmall, his philanthropic limited liability company, which he launched on April 7 by transferring $1 billion worth of Square shares — then 28% of his net worth — to the LLC. Dorsey said he would primarily focus his charitable efforts on Covid-19 relief, and also fund efforts to improve girl’s health and education, as well as UBI experimentation. Tubbs hopes that with more successful experiments of guaranteed income around the country, the federal government will follow with a national guaranteed income program that will extend beyond the pandemic.
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