This fall, Stockton, Calif., once known as America’s foreclosure capital, will become the first city in the nation to test drive a $500 a month universal basic income experiment, Fox News reported.
One hundred residents of the 300,000 population city have been selected to participate in the program, funded in part by Facebook co-founder Chris Hughes.
Hughes, a multi-millionaire by the time he was in his mid-20s, founded his organization, the Economic Security Project, to support the research and development of these types of projects, CNN reported.
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