Andrew Yang

Andrew Yang/Twitter

 According to a story by CNBCpresidential hopeful Andrew Yang, 43, is running for election on a campaign that centers around the idea of universal basic income, or free cash payments.

Yang is promising if he is elected president each American citizen between the ages of 18 and 64 will get $1,00 a month.

Yang is putting his money where his mouth is. He told CNBC that he's personally funding a pilot for cash payments, which he calls the Freedom Dividend.

He's giving $1,000 each month to a family in New Hampshire. In exchange, the family has promised to share their experiences. 

To fund a plan nationwide, Yang is proposing a 10 percent tax on the goods and services a company produces. 

A tax expert told CNBC the plan could aise anywhere from $500 billion to $1 trillion dollars. 

Executive Producer

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