Committee on Economic, Capital and Technology Development
February 24, 2021
RESOLUTION CALLING FOR HEARINGS INTO BASIC INCOME PAYMENTS
WHEREAS, many working people and families in Chicago struggle to make rent, pay their mortgage, basic utilities, student loans, and childcare, and nearly 25% of full-time workers rely on public assistance to make ends meet; and
WHEREAS, the impacts of income inequality plus 40 years of wage stagnation, automation of jobs, off-shoring, and trade deals have stunted the economic progress of all working people, and these trends show no signs of slowing down; and
WHEREAS, the impacts of the racial and ethnic wealth gap are felt most acutely in Chicago because of a long history of redlining and institutional racism; and
WHEREAS, Black households have one cent in wealth for every dollar of a white household, and Latinx families have eight cents; and
WHEREAS, the confluence of income and wealth inequality results in more than 60% of Americans having less than $1,000 saved in the bank for an emergency; and
WHEREAS, many individuals in Chicago and across the nation work full-time jobs and multiple side hustles in the gig economy and still cannot make ends meet; and
WHEREAS, the COVID-19 pandemic has now triggered an economic crisis of a magnitude not seen since the Great Depression; and
WHEREAS, the public health guidelines and social restrictions made the economic struggles of small businesses and working families exponentially worse; and
WHEREAS, the concentration of wealth and market control among the super wealthy and tech companies greatly expanded during this pandemic; and
WHEREAS, America's 650 billionaires grew their net worth by a collective $1 trillion since the Pandemic, with the top four being Big Tech executives; and
WHEREAS, in 2019, the Chicago Resilient Families Task Force put forward recommendations on a guaranteed income pilot and other bold policies to tackle these economic insecurity issues; and
WHEREAS, the City of Chicago has an opportunity to draw from the task force and lead the nation by launching a guaranteed income initiative and cash based programs and policies to help working people and families become more resilient to financial emergencies, make rent, cover childcare, and put food on the table tailored as a response to the coronavirus pandemic; and
WHEREAS, providing a baseline of stability and security to Chicago's residents will have an economic ripple effect, providing much needed boosts to our local economy and small businesses; and
WHEREAS, the City of Chicago will request $5 million through multiple funding sources including but not limited to President Biden's American Rescue Plan, public-private partnerships and additional revenue streams to launch a pilot program in Chicago; and
WHEREAS, monthly direct cash payments will then be delivered to residents and families selected for the pilot; and
BE IT RESOLVED, that we, the Members of the City Council will hold open hearings and discussions about how to move forward with implementing this important initiative to benefit all Chicago residents.
Sophia King Alderman, 4th Ward
Gilbert Villegas Alderman, 36th Ward
Maria E. Hadden Alderman, 49th Ward
The following legislation is being introduced by Alderman Gilbert Villegas regarding a Resolution Calling for Hearings into Basic Income Payments co-sponsored by
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The following legislation is being introduced by Alderman Gilbert Villegas regarding a Resolution Calling for Hearings into Basic Income Payments co-sponsored by
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Alderman Ward 36
Alderman Ward 25
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Alderman Ward 37
Alderman Ward 26
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Alderman Ward 38
Alderman Ward 27
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Alderman Ward 39
Alderman Ward 28
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Alderman Ward 33
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Alderman Ward 44
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Alderman Ward 45
The following legislation is being introduced by Alderman Gilbert Villegas regarding a Resolution Calling for Hearings into Basic Income Payments co-sponsored by
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Clerk Valencia
Alderman Ward 46
Alderman Ward 47
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Alderman Ward 48
Maria E. Hadden
Alderman Ward 49
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Alderman Ward 50
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