In a recent government meeting, officials discussed the success of a pilot project in Denver aimed at addressing homelessness through a basic income initiative. The program, which began in November 2022, defined homelessness broadly, including individuals living in cars or couchsurfing. Over the course of the year, the project provided financial assistance to 807 homeless individuals, resulting in 45% achieving stable housing within that timeframe.

Due to its success, the city of Denver has allocated an additional $2 million to extend the project through September, with hopes of transforming it into a three-year pilot study. Participants were divided into three groups: one received $1,000 monthly, another received $6,500 upfront plus $500 monthly, while a control group received only $50 monthly.

Concerns were raised regarding the potential for reduced work hours among participants, with critics arguing that the program might encourage dependency. However, data indicated only a 2% reduction in work hours, suggesting that some participants were able to leave part-time jobs to pursue education or better employment opportunities. One individual notably used the funds to purchase a vehicle, enabling them to secure a higher-paying job.

The discussions highlighted the ongoing efforts to combat homelessness through innovative financial support strategies, showcasing a promising approach that could reshape future policies in the city and beyond.