Google Announces A Major Step In Its Push For Universal Basic Income

It's part of a $1 billion commitment the California-based company has made. Google Announces A Major Step In Its Push For Universal Basic Income Giphy

News that is entertaining to read

Subscribe for free to get more stories like this directly to your inbox

There’s been a growing call among some elected officials and business leaders for a shift toward so-called “universal basic income,” which at a fundamental level simply refers to providing all applicable individuals with a set amount of money regardless of employment or other factors.

Now, an influential tech company is putting some money where its corporate mouth is.

Details of the plan

Although still in its infancy, recent reports laid out some of the basics included in Google’s plan, which include:

  • A total of $2.8 million in total guaranteed income
  • 225 families will receive $12,000 per year
  • Another 225 families will get $50 monthly payments
  • 70% include a single mother and children under 5

As it stands, the individuals set to benefit from this program are all living in the Bay Area of California and have been identified as in danger of slipping into homelessness. The root goal of Google’s program is to gauge how effective UBI is at helping those most at risk to secure adequate housing.

There have been a number of other efforts to implement such guaranteed income on a trial basis, but with Google’s deep pockets and a partnership with an MIT research center, this could have a better chance than most at propelling the idea forward.

Part of a bigger vision

This aspect of Google’s outreach is focused specifically on those believed to be within months of losing pivotal housing assistance, but it’s just one facet in a broader mission to tackle homelessness around San Francisco.

In total, the Big Tech titan has vowed to distribute $1 billion to aid to those struggling to find long-term housing. Google’s parent company, Alphabet, has seen its value soar in recent months as revenue spiked by a whopping 15% during the first quarter of 2024.

Chris Agee
Chris Agee May 8th, 2024
Share this story: