The mayor of Oakland, California, on Tuesday announced a privately funded program that will give low-income families of color $500 per month in a trial program similar to the “universal basic income” idea that gained national attention when proposed by former presidential candidate Andrew Yang. Under the 18-month long pilot that is to be up and running by summer, 600 families will receive $500 a month to spend as they choose, Oakland Mayor Libby Schaaf said in a statement. While the concept isn’t new—a number of mayors have launched small, temporary programs across the country in a coordinated campaign to convince Congress to adopt a national guaranteed income program—it is the first to limit eligibility strictly to black, indigenous, and people of color communities. “Our vision is an Oakland that has closed the racial wealth gap, and where all families thrive,” Schaaf said in a video statement. “We believe that guaranteed …