Oakland to launch one of the largest US universal basic income programs yet

The new program, which has raised $6.75m from private donors, will give low-income families of color $500 a month

Oakland is set to become the latest city in California to launch a guaranteed income program, with the mayor announcing Tuesday a privately funded program for low-income families of color.

The Oakland Resilient Families program will give families that meet a certain threshold $500 a month, with no rules on how they spend it. The program has so far raised $6.75m from private donors including Blue Meridian Partners, a national philanthropy group.