What is Universal Basic Income?

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Asset Limits in Public Assistance and Savings Behavior Among Low-Income Families

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               Low-income families receiving public benefits in the United States are often subject to asset limits for eligibility, which some argue to be counterproductive to their long-term economic stability. Previous research suggests that families may be more likely to save when states increase these limits. Still, more research is needed to establish whether low-income families adjust financial decisions based upon TANF asset restrictions. Our study builds upon the Nam (2008) study, which analyzed the effects of “liberalizing asset limits'' on savings behavior. We utilized data from the Panel Study of Income Dynamics. The theoretical premise of this study is that when the asset limit is low, families are encouraged to avoid accumulating assets. Because building a savings account is a valuable first step toward self-sufficiency and eventual withdrawal from public assistance, a low asset limit appears to be a counterproductive public po...
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HudsonUP Year 2 makes headway in UBI research

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       The HudsonUP Basic Income (BI) pilot’s second year wrapped up in the Fall of 2022, which includes 75 individuals over two cohorts. Our lab collected data bi-annually through surveys and interviews with willing participants. In Fall 2022 a third cohort of 53 participants was added, bringing the pilot’s total number to 128 participants.      HudsonUP’s unique 5-year length allows a deeper look into the effects of BI on individuals over time. The pilot encompasses a diverse set of Hudson, NY residents, and supports approximately 2% of all Hudson residents, nearly 5% of Hudson households, and 9% of residents living in poverty.       Quantitative data from the two cohorts shows that employment rates are steadily increasing above baseline, rising 72% in cohort one, and 150% in cohort two. Along with this, participants increased their savings and made steady improvements to their health. Overall, participants experienced positive c...
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