Stockton, California plans to hand out money in effort to curb poverty

STOCKTON, California -- Stockton, California is planning to hand out free cash to residents in order to help curb poverty.

The city will be the first in the country to test out "Universal Basic Income." How it works is 100 residents will get $500 a month.

The program will last 18 months with no strings attached.

The idea is to create a bottom income level that no one will fall beneath.

The project is expected to launch next year.