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As the bellwether for many policy ideas, California could take the lead once again. Democratic Assemblyman Evan Low has introduced a bill to create a universal basic income for state residents.
The Hill reports that the bill, AB 2712, faces an uphill battle despite its limitations—the proposed California Universal Basic Income Program does exempt people already using Medi-Cal, County Medical Services Program, CalFresh, CalWorks or Unemployment Insurance from receiving what would be a $1,000 monthly payment for residents over 18.
The money to finance those payments would come from a new 10 percent value-added tax on goods and services in the state, although the proposed tax would not apply to "medicine, medical supplies and equipment, educational materials, including textbooks, tuition or fees for education, food, groceries, and clothing."
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Marlene Satter
Marlene Y. Satter has worked in and written about the financial industry for decades.
