A California city is giving new parents $500 a month. It's one of a growing number of basic income pilots

Babies are expensive: Formula, diapers, clothes, toys, frequent pediatrician check-ups, and a crib can cost new parents thousands of dollars — and that doesn't include childcare or household bills. That's why city officials in Pomona, California — a city in LA county — are planning to offer guaranteed basic income to new parents.