(1) Too many Americans cannot achieve finan-
cial stability due to income volatility, the rising cost 
of living, wage stagnation, and a lack of affordable 
housing. 
(2) Real wages have failed to keep pace with in-
flation, meaning the purchasing power of American 
households has not changed in decades. 
(3) Income volatility, defined as an annual in-
come fluctuation of 25 percent or more, impacts mil-
lions of American households. 
(4) Two-thirds of Americans are worried they 
wouldn’t be able to cover their living expenses for 
just 1 month if they lose their primary source of in-
come, while 57 percent of American adults are cur-
rently unable to cover a $1,000 emergency expense. 
That percentage is higher for millennials at 79 per-
cent, and Generation Z at 85 percent, unable to 
cover an emergency expense. 
(5) Full-time minimum wage earners cannot af-
ford an average 2-bedroom apartment anywhere in 
the United States. 
(6) The changing nature of the economy, in-
cluding the rise of the gig economy, unemployment 
risks posed by automation, and the fluctuating na-
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ture of waged labor, will result in increased income 
volatility and prohibit upward economic mobility. 
(7) During the height of COVID-19, the Fed-
eral Government provided stimulus checks to the 
American people in response to the economic hard-
ship of the pandemic. The Census Bureau complied 
an analysis that showed that material hardship in 
United States households fell sharply following the 
passage of the COVID-19 relief bill in late Decem-
ber 2020, and the American Rescue Plan in March 
2021. From December 2020 to April 2021, food in-
sufficiently fell by over 40 percent, financial insta-
bility fell by 45 percent, and reported adverse men-
tal health symptoms fell by 20 percent. 
SEC. 3. GUARANTEED INCOME PILOT PROGRAM. 
(a) IN GENERAL.—The Secretary, in consultation 
with the Commissioner of Internal Revenue, shall establish 
and implement a 3-year pilot program (hereinafter re-
ferred to as the ‘‘program’’) to provide a guaranteed 
monthly income to certain eligible individuals in accord-
ance with this section. 
(b) INCOME SUBSIDY.— 
(1) SELECTION
OF
PARTICIPATING
ELIGIBLE 
INDIVIDUALS.—The Secretary, in consultation with 
the Commissioner and the external partner selected 
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pursuant to subsection (d), shall develop selection 
criteria that the Secretary will use to select 20,000 
total eligible individuals for participation in the pro-
gram. 
(2) AMOUNT OF INCOME SUBSIDY.—Of the eli-
gible individuals participating in the program, 
10,000 shall receive a cash payment each month 
equal to the fair market rent for a 2-bedroom home 
in the zip code in which the eligible individual re-
sides, or a substantially similar amount as deter-
mined by the Secretary, in consultation with the 
Commissioner and the external partner. 
(3) MONTHLY DISTRIBUTION OF INCOME SUB-
SIDY.—Each participating eligible individual shall 
receive the cash payment on the 15th day of each 
month. 
(c) RESPONSIBILITIES OF COMMISSIONER OF INTER-
NAL REVENUE.—The Commissioner of Internal Revenue 
shall be responsible for— 
(1) providing the Secretary access to tax 
records to administer and study the program under 
this section; 
(2) updating the Secretary and the external 
partner on changes to the taxable income of a par-
ticipating eligible individual. 
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(d) EXTERNAL PARTNER.— 
(1) SELECTION.—The Secretary shall select an 
external partner to provide assistance with the de-
sign, administration, and evaluation of the program. 
(2) QUALIFICATIONS.—An organization selected 
to be the external partner shall have demonstrated 
experience in— 
(A) mixed-methods experimental design; 
and 
(B) implementing cash-transfer programs. 
(3) CONFIDENTIALITY.—The external partner, 
and any employee of the external partner, shall be 
treated as a Federal employee for purposes of sec-
tion 6103 of the Internal Revenue Code of 1986. 
(4) DATA COLLECTION.—The external partner 
shall collect data from participating eligible individ-
uals as necessary to complete the study and reports 
required under section 4, and to conduct any addi-
tional research as the Secretary determines nec-
essary. 
(e) DISREGARD OF CASH PAYMENTS FOR PURPOSES 
OF ALL FEDERAL
AND FEDERALLY ASSISTED PRO-
GRAMS.—Notwithstanding any other provision of law, any 
payment made to participating eligible individuals under 
this section shall not be taken into account as income, and 
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shall not be taken into account as resources for a period 
of 12 months from receipt, for purposes of determining 
the eligibility of such eligible individual (or any other indi-
vidual) for benefits or assistance (or the amount or extent 
of benefits or assistance) under any Federal program or 
any State or local program financed in whole or in part 
with Federal funds. 
SEC. 4. STUDY AND REPORT. 
(a) STUDY ON PILOT PROGRAM.—The Secretary, in 
collaboration with the Commissioner and the external 
partner, shall conduct a study on outcomes of the pro-
gram. 
(b) INTERIM REPORT.—Not later than 24 months 
after participating eligible individuals have been begun 
participating in the program, the Secretary, in consulta-
tion with the Commissioner of Internal Revenue and the 
external partner, shall provide an interim report on the 
program under section 3 to the Congress. 
(c) FINAL REPORT.—Not later than 12 months after 
the conclusion of the program under section 3, the Sec-
retary, in consultation with the Commissioner of Internal 
Revenue and the external partner, shall provide a final re-
port on the program to the Congress, including— 
(1) an analysis of— 
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(A) the effect of the monthly income sub-
sidy provided in section 3 on— 
(i) micro-economic outcomes of par-
ticipating eligible individuals; 
(ii) the health of participating eligible 
individuals; 
(iii) the social costs of income vola-
tility, including connections with income 
fluctuation and health, housing, education, 
employment, childcare, and other outcomes 
as determined appropriate by the Sec-
retary; and 
(B) the feasibility of expanding the pro-
gram under section 3 to include a larger num-
ber of participants; and 
(2) the results of interviews and focus groups 
conducted with consenting participants of the pro-
gram. 
SEC. 5. DEFINITIONS. 
In this Act: 
(1) 
COMMISSIONER.—The 
term 
‘‘Commis-
sioner’’ means the Commissioner of the Internal 
Revenue Service. 
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