Oakland will give low-income families of color $500 per month, no strings attached

Oakland Mayor Libby Schaaf announced last week that the city will launch a guranteed income project to give hundreds of Black and Indegenous families and people of color $500 per monthh for 18 months, reports CNN.

Similar initiatives were introduced in Newark, New Jersey, and Atlanta last year.

"Guaranteed income is one of the most promising tools for systems change, racial equity and economic mobility we've seen in decades", Mayor Schaaf said. She further added that "The poverty we all witness today is not a personal failure, it is a systemic failure".