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Cook County President Toni Preckwinkle shared early findings from the Cook County Promise Guaranteed Income Pilot, highlighting significant positive impacts on participants, such as increased financial stability and reduced stress levels. The program, which began in 2022, leveraged $42 million in federal funding from the American Rescue Plan Act (ARPA) and provided $500 monthly payments to 3,250 households over two years, concluding in January 2025.
Preckwinkle revealed plans to form an advisory committee to advance the program’s next phase, emphasizing, "We launched the Promise Pilot to test a simple but powerful idea: that direct cash support helps residents live healthier, more stable lives."
GiveDirectly, the pilot’s administrator, reported participants’ survey results: 75% felt more financially secure, 94% managed unexpected expenses with program funds, 73% believed the payments would have lasting effects, 56% reported stress reduction, and 70% experienced a positive impact on mental health. "Promise Pilot participants have shared how a guaranteed income transformed their lives," stated GiveDirectly’s Emma Kelsey.
The Inclusive Economy Lab at the University of Chicago is conducting a detailed evaluation of the pilot. Reports, including a First Look Report, Process Evaluation, and Economic Impact Report, are expected soon.
"There is increasing wealth inequality, and inflation remains challenging," noted Carmelo Barbaro of the Inclusive Economy Lab. "Guaranteed income has gained prominence as a policy intervention."
One report indicated that 45% of participants avoided debt, while 31% reduced existing debt. Preliminary economic impact findings showed $19.5 million distributed annually resulted in $11 million spent on household needs, with significant local business contributions.
The pilot offered optional financial counseling through Working Credit, and participants experienced credit score improvements, with an average increase of 39 points. The advisory committee will include experts from various fields and incorporate community input. Its first meeting is slated for spring 2025.
Cook County's initiative, in collaboration with the Economic Security Project (ESP), launched a storytelling cohort to help participants share their experiences. Participant Nikita Smith Jr. reflected on the impact, "Getting those checks was like I jump-started adulthood."
Throughout the initial application period in 2022, more than 230,000 residents applied. Updates will be ongoing as more evaluation results are released. For further information, visit Cook County's website.
