ALBUQUERQUE, N.M. (KRQE) – The city of Albuquerque is putting dollars directly into the hands of families in need. The Guaranteed Basic Income program provides qualifying families with several hundred dollars a month, no strings attached.
Officials say that this program is based on a similar one that launched in Santa Fe three years ago. “Most people want to improve their situation. Most people want to have a better life. It’s really the system that keeps people in the situation that they are in. This shows when you trust and invest in people, people then are able to do better,” emphasized Ivanna Neri, UpTogether’s Southwest Partnership Director.
In 2022, several local non-profit companies came together with a California organization called Up-Together, providing 330 families across New Mexico with $500 a month for one year. These funds serve as a vital lifeline for families experiencing financial hardships.
Ivanna Neri worked on that program. “So people who might be wanting to advance their education or might be wanting to just get into a better job, this is the type of investment that’s really helpful for them as they try to move to the next step,” Neri says.
The program showed wide-ranging positive impacts on the families involved. Participants saw a 35% decrease in difficulty paying for rent, a 9% increase in children completing their grade level or graduating, and a decrease in unstable work schedules for families.
“What this approach offers is efficiency and also the impact that people are best positioned to make the decisions and choices that work best for themselves and their families,” mentioned Neri.
Albuquerque’s program will be supporting families of students in select high-needs public schools, on the west side and the International District.
The first cohort will consist of 80 households that will receive monthly guaranteed income support of $750 for three years.
“So some of the things that we learned as we have been exposed not only to the work in New Mexico, but really across the country, is that cash helps stabilize people when it comes to housing, reducing stress, staying in school, caring for children, and covering basic needs,” said Neri.
This pathway to economic stability is funded by the Cannabis Equity Reinvestment Solution. Over $4 million was appropriated from marijuana taxes. These funds are intended to help cover basic needs to ensure that families are able to attain access and sustain economic stability.
Along with the financial assistance, families will receive financial counseling from the Office of Financial Empowerment.
