Via MSN:

(Bloomberg) — Los Angeles Mayor Eric Garcetti is proposing a guaranteed income program for poor residents, making it the largest U.S. city to test such a policy.

Garcetti will ask the City Council on Tuesday to set aside $24 million in next year’s budget to send $1,000 monthly payments to 2,000 low-income families in America’s second-largest city, the mayor said in an interview. Funds from council districts and other sources could bring the total to $35 million.

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