A Pathway to Economic Stability for Families: Funding Approved for Guaranteed Income Initiative
ALBUQUERQUE – Following City Council approval of the Marijuana Equity and Community Reinvestment resolution, $4.02 million was appropriated with just over $2 million in City of Albuquerque Marijuana Tax Revenue to fund a new Guaranteed Income Initiative to correct for historic inequity and help create economic stability for those trying to build a better future for their families.
This multi-year program will seek to help close the wealth gap by providing recurring funding directly to eligible low-income community members in the International District and West Side. These two districts were chosen because they house the two elementary schools with some of the lowest academic outcomes and highest rates of chronic absenteeism.
The first cohort will consist of 80 households that will receive monthly guaranteed income support of $750 for three years. The second cohort will consist of 20 families and up to 40 opportunity youth.
“This program puts money where it’s needed most, into the hands of struggling families working to build a better future,” said Mayor Tim Keller. “Albuquerque is a city that will always fight to correct injustices and will push to help families get the tools they need to succeed with dignity.”
"While we've secured the funding with R-25-116, ensuring the appropriation of $4.02 million goes to the Marijuana Equity and Community Reinvestment Fund, our work doesn't stop here. Now, we must demand clear implementation strategies and measurable outcomes. This isn't just about allocating dollars; it's about delivering tangible benefits to the communities disproportionately impacted by past injustices. We owe them more than good intentions; we owe them results." - Albuquerque District 3 Councilor Klarissa J. Peña
The City of Albuquerque’s Office of Equity and Inclusion (OEI) will manage the program. OEI was established by Mayor Keller during his first term to address racial disparities and advance equity throughout the community.
“Families are creative problem solvers. This program gives them the power to make choices that create stability and opportunity,” said OEI Director Sonya Lara. “Across the country, guaranteed income programs are changing lives, and we’re bringing that impact to Albuquerque.”
Priority for the Guaranteed Income pilot-programs will be given to people negatively impacted by the criminalization of marijuana, such as people of Black, Native American, Asian, Pacific Islander identity, women, low-income families, and youth ages 14 – 24. The programs will be funded through the City’s Marijuana Equity & Community Reinvestment Fund, which is dedicated to rectifying the disproportionate harm caused by the criminalization of marijuana and supporting affected communities.
“I am overjoyed that GBI is going to become a reality using Government funding,” said Albuquerque District 6 Councilor Nichole Rogers. “Most pilots have been funded by philanthropy and this sends a huge message across the Country that Government can and should help people, who are willing to work on themselves a hand up out of poverty! I am so grateful to all the Councilors who voted in favor of finally beginning to end poverty”
Along with the financial assistance, cohort members will receive financial counseling with the Office of Financial Empowerment (OFE) to help participants prepare for life after their programming comes to an end.