Business and Economic News

Free money for all? Mayors hope local tests bring big change

Two men face each other during a conversation
Los Angeles Mayor Eric Garcetti, right, talks with Michael Tubbs, founder of Mayors for a Guaranteed Income, after holding his annual State of the City address. In experiments across the country, dozens of cities and counties, some using money from the $1.9 trillion COVID relief package approved in March, and the state of California are giving some low-income residents a guaranteed income of $500 to $1,000 each month, and tracking what happens.
Gary Coronado | Los Angeles Times via AP, Pool File