The initial spending and demographic results of Shreveport’s Guaranteed Income Program were rolled out as part of a major, nationwide step forward for the guaranteed income movement.
Mayors for a Guaranteed Income’s new data dashboard shows that in Shreveport and around the country, families are using their need-based cash payments to cover necessities in an uncertain economy — providing them with the opportunity, freedom, and resilience they need to build financial security.
Here in Shreveport, the Shreveport Guaranteed Income Program is providing 110 single parents with school-aged children whose income is at or below 120% of the federal poverty line an unconditional cash payment of $660 per month over the course of 12 months.
Initial data from the Shreveport Guaranteed Income Program shows:
- The majority of the funds were spent on basic necessities like food, household goods, and transportation.
- 54.31% of the funds were spent at retailers and discount superstores on things like food, clothes,
- household goods, and hygiene products.
- 22.27% was spent at grocery stores.
- 5.92% was spent on transportation costs like gas and car repair.
- 6.78% went to housing and utilities.
- Other expenses included loan repayments, medical expenses, and tuition.
The City of Shreveport has shared with us that spending data from the participants is tracked by an app the Guaranteed Income Program partners with. The app connects to the participants financial accounts and tracks their spending habits.
“When life happens, and it’s out of your control, this program has been the cushion needed in those unforeseen times,” said Aimee a participant in Shreveport’s Guaranteed Income Program.
“The data released today is a breakthrough for justice, equality, and the guaranteed income movement. It proves that cash is an urgent solution to the failures of the American economy,” said Mayor Adrian Perkins. “It’s time for leaders, at every level, to join us in this guaranteed income movement to finally create an economy that works for all.”
