A Statement from the Meyer Foundation
April 7, 2023
Statement re: Prince George's County Guaranteed Basic Income Pilot Program:
As a co-funder with the Greater Washington Community Foundation, the Meyer Foundation is thrilled the Prince George’s County Council voted this week to support a guaranteed basic income pilot program. Prince George’s County is set to become one of our region’s latest localities to offer hundreds of residents no-strings attached monthly cash payments and will be the most recent pilot program that Meyer is proud to invest in.
Prince George’s County’s guaranteed basic income pilot program could provide as many as 200 recipients with a monthly guaranteed income payment of up to $800 over 24 months. As these pilots have picked up momentum regionally and nationally, studies show that monthly cash payments can reduce income volatility and support recipients in attaining full-time employment, greater housing stability, improved health outcomes, and more. These initiatives not only benefit residents but the broader communities they live in.
“In keeping with our mission to pursue and invest in solutions that build an equitable Greater Washington community,” says Meyer Foundation President and CEO George L. Askew, MD, “we believe our $1 million investment in this pilot has the potential to advance racial equity and economic resilience in our region, and to create greater support for an already rapidly growing movement for economic justice. Further, public-private partnerships like these can demonstrate the strength of collective action.”
The Meyer Foundation is excited to partner with the Greater Washington Community Foundation in seeding this pilot program and we look forward to partnering with others across sectors to advance toward a thriving region.