New York City Launches $1.5M 'Cash with Care' Guaranteed Income Program

The 12-month initiative will provide $1,200 monthly payments and a $5,000 lump sum to 60 young New Yorkers experiencing homelessness.

Published on Feb. 19, 2026

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New York City has launched a new guaranteed income program called 'Cash with Care' that will provide $1,200 monthly payments and a $5,000 lump sum to 60 young people aged 18-24 who are experiencing homelessness. The $1.5 million program, run in partnership with the non-profit Covenant House, aims to help vulnerable youth achieve greater housing stability and self-sufficiency through the unconditional cash payments as well as support services like financial planning, housing assistance, and career development.

Why it matters

Guaranteed income programs have grown in popularity across the U.S. as a way to alleviate poverty and provide financial security, especially for marginalized groups like homeless youth. New York City has emerged as a leader in these initiatives, with Cash with Care building on the success of previous pilots like the 'Trust Youth Initiative' that showed improvements in housing stability for participants.

The details

The Cash with Care program will run for 12 months and provide $1,200 monthly payments as well as a $5,000 lump sum to 60 young people aged 18-24 who are clients of the Covenant House shelter and services organization in New York City. In addition to the flexible cash assistance, participants will receive benefits counseling and other support services to help with financial planning, housing searches, and career development.

  • The Cash with Care program was announced by the New York City Council in December 2025 and is expected to run through June 2026.
  • The previous 'Trust Youth Initiative' guaranteed income pilot program was launched in 2021.

The players

Covenant House New York

A non-profit organization that provides shelter, services, and support to homeless and at-risk youth in New York City.

Adrienne Adams

The speaker of the New York City Council, who announced the launch of the Cash with Care program.

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What they’re saying

“When we invest in young people, we're investing in the future of our entire city. Guaranteed income programs are effective in opening new pathways to self-sufficiency and stability.”

— Adrienne Adams, Speaker of the New York City Council (the-sun.com)

“By supporting young people who are experiencing housing insecurity with resources and funding, we are taking an important step to advance the health, safety, and well-being of all New Yorkers.”

— Adrienne Adams, Speaker of the New York City Council (the-sun.com)

What’s next

Program researchers will compare outcomes for the 60 current Cash with Care recipients against a control group, measuring housing stability and food security.

The takeaway

New York City's new 'Cash with Care' guaranteed income program is the latest in a growing number of such initiatives across the U.S. aimed at providing financial security and support services to vulnerable populations, in this case homeless youth, to help improve their long-term well-being and self-sufficiency.