Next week is the deadline for Americans to claim $500 monthly payments from the $1.2 million pot - see the exact date below

A 12-month pilot program offering $6,000 guaranteed income is still open to thousands of Americans 

But time is running out. Mount Vernon, New York, has partnered with Mayors for a Guaranteed Income 

Program to provide $500 monthly payments to 200 residents.

As part of the pilot program, Mount Vernon residents will receive cash while the extra income is studied simultaneously.

Households must earn at least $15,000 per year to qualify.

The income cap varies by household size, but qualifying families must make less than 80% of the county's average income.

The limit is $90,000 for a household of four.

Online applications are open until August 5 at 11.59 p.m. for eligible residents.

Residents can also apply at physical locations around the city.

200 applicants will be randomly selected to participate in the universal basic income pilot program after the window closes.

It is expected that the city will notify people by the end of August, but the timeline is subject to change.

A survey will also be administered to households selected for the program about their overall health and well-being.

Mount Vernon Mayor Shawyn Patterson Howard said the city is committed to building a dignity economy.

As a leader of a coalition of innovative and forward-thinking mayors that is not afraid to push 

for critical resources for their community, I fully support guaranteed income for residents."

Participants will be able to spend their money however they want, and payments will come with no strings attached.

Pre-loaded debit cards will be used to pay participants, so a bank account is not required.

According to the Rockland Westchester Journal News, the program will cost $1.2 million.

Relief in Mount Vernon will be funded entirely by the American Rescue Plan, which earmarked $41 million.

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