The Denver Basic Income Project (DBIP), one of the largest guaranteed income programs in the US, is set to distribute more cash as it extends its pilot program for another six months. The program, which has received $1.8 million in funding, aims to provide up to $1,000 to 660 selected participants, according to the Colorado Newsline.

Initially, the program selected 800 beneficiaries and divided them into three groups. The first group receives $1,000 per month for a year, while the second group received a one-time payment of $6,500 followed by $500 per month for 11 months. The final group, known as the control group, receives a fixed $50 per month for a year.

As part of the program expansion, the control group will now receive an additional $100 per month for six months, while the other two groups will receive an extra $1,000 per month for the next six months. The funding for this extension will come from the Denver City Council.

The decision to extend the program was made after an interim study showed that participants’ lives improved significantly after receiving financial assistance for six months. The study revealed that all three payment groups experienced positive changes in areas such as housing, financial well-being, sense of safety, and overall mental health.

Mark Donovan, the founder and executive director of DBIP, stated that many participants used the money to pay off debts, repair their cars, secure housing, and enroll in educational courses. These actions, according to Donovan, have the potential to lift participants out of poverty and reduce their reliance on social support programs.

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