The Office of the Budget Director of the Council of the District of Columbia produced an economic and policy impact statement analyzing the potential for a locally-funded guaranteed minimum income or universal basic income for residents of the District of Columbia. The study estimated the cost of living in D.C. while also testing the strength of the public social safety net. Researchers then used their findings to create three different methods for providing D.C. residents a minimum income and calculate the economic consequences of these methods. The Office used a 70-sector REMI model to forecast the impact of a minimum income program on the region’s economy and labor market, as well as simulate four separate scenarios to provide an array of possible economic impacts of a minimum income program rather than a single predictive data point.
