How Guaranteed Basic Income Can Help Bridge Fairfield County’s Wealth Gap

Dear Friend,

In a thriving community, everyone has an opportunity to earn a living wage and save for the future.

However, for many households in Fairfield County, that reality feels out of reach.

This is especially true for Black and Latino households, which have significantly lower incomes and more debt than their white neighbors. And that gap has only widened in recent years because of the COVID-19 pandemic, rising interest rates, and inflation.

It isn’t a lack of “want” or “will” but rather a lack of money that complicates the path toward a better economic future.

With a bit more money in their monthly budgets, families can have the breathing room needed to go to school to learn a high-wage trade rather than log long hours in multiple low-jobs.  They can afford a car to get to and from work or school. Or they can pay for care for a child or older relative.

THE EVIDENCE

There is strong evidence that the best way to get more households and families on the path to economic and social mobility is to ensure they have the money they need to navigate the journey — and the power to make decisions on how to use it.  By providing monthly guaranteed income to families, we can help address our income gap and give more families the tools they need to thrive.

According to an April report by the Urban Institute, “findings from historic and current guaranteed income experiments demonstrate excellent outcomes for children, and strong gains in adult mental health, physical health, and parenting, as well as large increases in household food security and housing stability.”

That’s why we’ve joined our community foundation counterparts in Hartford and New Haven in launching a three-year Guaranteed Basic Income pilot that aims to show how direct cash assistance can help change the trajectory of families here in Connecticut.

HOW IT WORKS

Through monthly payments over the course of three years, 120 households will receive a total of $12,600 to help create better conditions for their families.

Each of the families selected to participate in this pilot program is deeply committed to changing their personal circumstances — and they are also local organizers equally committed to advocating for better conditions for their communities.

With more cash in their pockets, they will be able to determine how to invest in themselves and achieve greater stability, opportunity, and hope.

OUR GOALS

Through this pilot we will be able to demonstrate to our colleagues in philanthropy and government how direct cash assistance can be a ladder to a more promising future.  Ultimately, we can gather data to make the case for more impactful public spending.

To date, $1.4 million has been raised to support this CT-based Guaranteed Basic Income pilot program — with the goal of increasing that total to $1.8 million by the end of the year.

By supporting this effort, donors have a unique chance to directly contribute to making life easier and more fulfilling for our neighbors.

And they’re able to help us prove that the best way to change social outcomes is to ensure that those who have the most at stake have the power to make the decisions that are right for them and will improve their wellbeing.  Self-determination is core to our national values, and we can extend that power to everyone here in Fairfield County.

In Community,

Mendi Blue Paca
PRESIDENT & CEO
FAIRFIELD COUNTY’S COMMUNITY FOUNDATION

P.S. ~ Will you help us reach our funding goal for the Guaranteed Basic Income pilot program? Consider a gift to FCCF’s Economic Opportunity Fund or reach out to set up a meeting to learn more about how you can get involved.