David Kim, Democrat for US Congress (CA-34), Unveils First Ever Los Angeles Universal Basic Income (UBI) Trial
Campaign has selected 25 families impacted by the COVID-19 pandemic to receive direct cash payments through the election.
FOR IMMEDIATE RELEASE – David Kim, a Democrat for US Congress in CA-34’s general election, today announces his campaign will launch the first ever Universal Basic Income (UBI) trial in Los Angeles. 25 families in California’s 34th district, which spans Central and Northeast Los Angeles, will receive direct cash payments through November. An advocate for UBI, Kim has been endorsed by former US presidential candidate Andrew Yang, who mainstreamed the concept of UBI to address structural changes in the future American economy. Now more than ever with COVID-19, UBI has become particularly pertinent. The funds for this trial are provided by Steady, a technology company that helps workers find jobs, manage personal finance, and increase their income in the 21st Century economy.
“My campaign is based on the core values of financial freedom, love and justice for all,” said Kim. “During the unprecedented economic downturn we face due to COVID-19, it is more essential than ever to get money in the hands of those who need it most. I am absolutely thrilled to partner with Steady to assist residents in our district, and demonstrate that Universal Basic Income creates a fairer, more just and more secure nation for us all. Trickle-up–not trickle down–policies help ensure we start to reduce wealth inequality and help guarantee freedom and justice for all.”
One of the most vibrant communities in the United States, CA-34 is also one of the country’s lowest income congressional districts. More than 75% of residents are renters, and it is one of the poorest districts in the nation. The COVID-19 pandemic and resulting economic downturn have only further exacerbated these economic pressures on local residents. Without significant economic or financial assistance from local or federal leaders, the security of many small businesses and individual residents is currently imperiled.
Kim’s campaign has selected 25 individuals to receive cash payments as a UBI trial through the election. The selection criteria is based on individuals who have lost at least 50% of income since the beginning of the pandemic and have immediate need for funds for basic necessities such as housing, childcare, education and food.
UBI responds to the pressures of the 21st Century American economy. As automation and flexibility make it harder for workers to find regular, salaried work, they carry the risk of not having sufficient means to provide for housing, healthcare, education, and vital expenses. UBI levels the economic playing field for all Americans during a time of unprecedented wealth and income inequality, helping to guarantee necessities while also providing the financial security to encourage entrepreneurship and stimulation of the local economy. Further, it reduces dependency on predatory financial practices such as payday lenders, high interest credit cards, and high bank overdraft fees.
“Steady’s data showed a clear need for advancing basic income discussions pre-COVID-19,” said Adam Roseman, Co-Founder and CEO of Steady. “The need has now been clearly and dramatically accelerated and we wholeheartedly support congressional candidates who will aggressively push for a basic income to be established as soon as possible. David Kim will serve as a needed voice in Washington and I am excited to support his campaign.”
Kim will be making his first public appearance to discuss this historic project on Monday (09/21/2020) at 5:30PM PST/8:30PM EST. It will be hosted via Instagram Live (@davidkimforcongress). At that time, he will be taking questions from the press and constituents.
The CA-34 community includes Downtown Los Angeles, Koreatown, Eagle Rock, Highland park, Brooklyn Heights, Boyle Heights, El Sereno and surrounding neighborhoods. To learn more about David Kim and his campaign, visit https://davidkim2020.com/.
About David Kim
David Kim is running for Congress to represent California’s 34th congressional district because he believes Los Angeles deserves a progressive leader who will put the community first and listen to the people, not corporations. His bold vision has earned him endorsements from Andrew Yang, Marianne Williamson, Americans for Democratic Action, Sunrise Movement LA, American Progressives in STEM, Our Revolution LA, and more.
Through his career as an attorney, author, elected neighborhood board council member, and community activist, Kim has seen firsthand the devastating impact of racial and financial inequality.
Kim knows the American Dream can be accessible to everyone, but only if we provide the opportunities for people to succeed. He understands the strength and well-being of a community goes far beyond metrics like GDP. If elected, he would be the first Asian American congressional representative for CA-34 and first Korean American congressional representative for LA’s Koreatown. More information at: https://davidkim2020.com/.
Launched in 2018, Steady puts the power of worker-focused data and technology tools into the hands of its members to help them solve their increasing income challenges caused by wages not keeping up with costs of living, the reduction of available work hours at employers due to their driving efficiencies, and future job loss due to automation. Steady makes it easier than ever for workers to fill their income gaps, gain insights into their income, and improve their overall financial well-being. To date, over 2.1 million workers have registered as members with Steady.