Twenty percent of the residents living in Compton, California, live below the poverty line, and local officials are hoping to reduce that number with a new program called the Compton Pledge. Under the program, 800 low-income residents will receive between $300-$600 per month for two years.

"People in our community are going through tough times, and I know that guaranteed income could give people a moment to navigate their situation, and have some breathing room to go back to school, explore a new career path, spend time with their children, or improve their mental and emotional wellbeing," Compton Mayor Aja Brown said in the statement. "Ensuring all people are able to live with dignity is something we should all strive for in America."

Residents who qualify for the cash assistance will be able to receive their money via direct deposit, electronic transfers, or prepaid debit cards using an online platform. The platform will also offer no-cost banking options and provide access to "financial, legal, and counseling services."

Private donors have provided $2.5 million for the program so far and officials hope to raise more than $8 million. Officials said most of that money will be used to provide direct payments to residents enrolled in the program.

Photo: Getty Images

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