Select residents of Fresno, California will soon begin receiving monthly stimulus payments where qualified residents will receive $6,000 in totality in a new stimulus payment program. Stimulus payments are intended to offer families in need of financial support by providing immediate economic relief. The payments are also intended to promote economic spending in the economy during period of low-spending.
California currently has the second highest cost-of-living
California is notorious for its high cost-of-living. According to data collected by Stacker, California take one of the top three spots as the most expensive state to live in behind Hawaii with Washington D.C following closely on its heels. “The general demand to be in California met with not quite enough home supply means that purchasing a home or renting in California is extremely expensive,” says Hannah Jones, senior economic research analyst at Realtor.com.
Housing and rental costs are some of the most significant expenses residents of California are faced with. Around 40% of homeowners and 50% of renters spend more than 30% of their income on housing costs. This means that many families are left with very little income to cover other living expenses and often have none left for disposable income. The new stimulus payment program is thus an important introduction to the state to help residents keep up with the high cost-of-living.
Advancing Fresno County Guaranteed Income an important addition
The new stimulus payment program is dubbed the Advancing Fresno County Guaranteed Income. This program intend to benefit residents of Fresno. Qualified beneficiaries are set to receive $500 per month in payments. The program was launched in July of this year and the payments will be distributed to 150 families in Fresno for one year. The program has been launched by the Fresno Economic Opportunities Commission (Fresno EOC).
According to Fresno EOC statistics, there are 999,101 residents in Fresno County. 20.6% of the residents are living in poverty. This is more than 1.5 times the rate in California (11.8%) and the United States (12.3%). The launch of the Advancing Fresno County Guaranteed Income is intended to help low-income families in this area. Fresno experienced some of the highest rental prices increases in the country post-COVID19 at nearly a 30% increase.
“We know families are hardworking, resilient, and all they need is a little help and support,” says Emilia Reyes, Fresno Economic Opportunities CEO, “the fact that we have this opportunity to launch this small program and hopefully advocate more, to impact more families in our communities, is simply an honor.”
Fresno EOC is committed to providing support for residents
Since their inception in 1965, Fresno EOC is a nonprofit organization where they serve residents of Fresno through over 30 programs. Part of their overarching mission statement is to reduce poverty, increase self sufficiency, and build stronger communities. Fresno’s community programs are involved in education, housing, senior-care, vocational training, energy conservation, preventive health care to prenatal nutrition education, and job placement services.
To the nearly 100,000 residents of Fresno, Fresno EOC has been a benchmark of support for residents for the past five decades. Currently, Fresno EOC is undertaking their Strategic Plan for 2023-2026 with key areas of focus being health and wellness, housing and stability, employment, food insecurity, community safety, and educational achievement.
Nonprofits like Fresno EOC play a crucial role in reducing poverty in the United States by addressing the immediate needs of low-income individuals and families, while also advocating for systemic change. Beyond direct aid, many nonprofits work to address the root causes of poverty, such as inequality, lack of access to education, and unemployment, by advocating for policies that promote economic justice and social mobility. In a country where government programs alone cannot meet all the needs of disadvantaged individuals, nonprofits are essential partners in creating a more equitable society and ensuring that everyone has the chance to thrive.
