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Jack Dorsey. Photo: Chesnot/Getty Images

Billionaire Twitter CEO Jack Dorsey has donated $15 million to help fund guaranteed income projects across the U.S., Mayors for a Guaranteed Income announced on Tuesday.

Why it matters via Axios' Jennifer A. Kingson: Dorsey's move — coupled with the news that Miami residents are waiting in line for hours for $250 grocery vouchers — highlights the dire financial needs among urban dwellers that have sent mayors across the country lobbying Congress for more federal aid during the coronavirus pandemic.

  • The donation also comes as dozens of cities ramp up "their efforts to send monthly assistance checks to some of their residents, expanding a nationwide experiment to see if concepts such as 'universal basic income' can help local families weather the worst economic downturn since the Great Depression," the Washington Post notes.

The big picture: MGI was founded earlier this year to "to advocate for a guaranteed income — direct, recurring cash payments..." About 30 mayors have signed on.

What they're saying: "We are a nation in crisis and the last one of this scale yielded dramatic social reform; this is our New Deal moment," said Michael Tubbs, mayor of Stockton, California and MGI's founder.

  • "We need a social safety net that goes beyond conditional benefits tied to employment, works for everyone and begins to address the call for racial and economic justice through guaranteed income," Tubbs added.
  • "If [Senate Majority Leader Mitch McConnell] won’t act, Mayors will to provide a floor for our constituents and push for federal policy. We need a guaranteed income," he tweeted.
  • Steve Benjamin, mayor of Columbia, South Carolina, said the money will help provide 100 residents with $500 per month for 24 months.
  • Melvin Carter, mayor of Saint Paul, Minnesota, said the grant will help his city provide 150 families with $500 a month for 18 months.
  • Victoria Woodards, mayor of Tacoma, Washington, said the grant will help accelerate the city’s efforts to launch a guaranteed income pilot program.

Dorsey on Twitter thanked the MGI mayors "for these universal basic income pilots," and added, "I hope they inform federal policy in the future."

🎧 Go deeper: Andrew Yang on making stimulus permanent

Go deeper

Jan 27, 2021 - Economy & Business

Telework's tax mess

Illustration: Annelise Capossela/Axios

As teleworkers flit from city to city, they're creating a huge tax mess.

Why it matters: Our tax laws aren't built for telecommuting, and this new way of working could have dire implications for city and state budgets.

The rebellion against Silicon Valley (the place)

Photo illustration: Sarah Grillo/Axios. Smith Collection/Gado via Getty Images

Silicon Valley may be a "state of mind," but it's also very much a real enclave in Northern California. Now, a growing faction of the tech industry is boycotting it.

Why it matters: The Bay Area is facing for the first time the prospect of losing its crown as the top destination for tech workers and startups — which could have an economic impact on the region and force it to reckon with its local issues.

1 hour ago - Science

COVID time warp

Illustration: Sarah Grillo/Axios

The start of the COVID-19 pandemic seems like a lifetime ago to some, and just yesterday to others. Scientists are beginning to unpack the way people processed the passage of time amidst the stress, uncertainty and isolation of the 1 year, 8 months and 21 days since WHO declared a pandemic.

Why it matters: The pandemic's global effects on how people experience time could provide new insights into the brain's ability to perceive and predict time — a fundamental feature of life.