1. Short title This Act may be cited as the Guaranteed Income Pilot Program Act of 2023 . 2. Findings Congress finds the following: (1) Too many Americans cannot achieve financial stability due to income volatility, the rising cost of living, wage stagnation, and a lack of affordable housing. (2) Real wages have failed to keep pace with inflation, meaning the purchasing power of American households has not changed in decades. (3) Income volatility, defined as an annual income fluctuation of 25 percent or more, impacts millions of American households. (4) Two-thirds of Americans are worried they wouldn’t be able to cover their living expenses for just 1 month if they lose their primary source of income, while 57 percent of American adults are currently unable to cover a $1,000 emergency expense. That percentage is higher for millennials at 79 percent, and Generation Z at 85 percent, unable to cover an emergency expense. (5) Full-time minimum wage earners cannot afford an average 2-bedroom apartment anywhere in the United States. (6) The changing nature of the economy, including the rise of the gig economy, unemployment risks posed by automation, and the fluctuating nature of waged labor, will result in increased income volatility and prohibit upward economic mobility. (7) During the height of COVID–19, the Federal Government provided stimulus checks to the American people in response to the economic hardship of the pandemic. The Census Bureau complied an analysis that showed that material hardship in United States households fell sharply following the passage of the COVID–19 relief bill in late December 2020, and the American Rescue Plan in March 2021. From December 2020 to April 2021, food insufficiently fell by over 40 percent, financial instability fell by 45 percent, and reported adverse mental health symptoms fell by 20 percent. 3. Guaranteed income pilot program (a) In general The Secretary, in consultation with the Commissioner of Internal Revenue, shall establish and implement a 3-year pilot program