Sen. Mitt Romney (R-Utah) said this week that he supports a cash influx as the coronavirus wrecks the American economy, tanking the stock market and keeping many away from their work.
The former Republican presidential candidate told The New York Times reporter Johnathan Martin, “Every American adult should immediately receive $1,000 to help ensure families and workers can meet their short-term obligations and increase spending in the economy.”
NEW from @MittRomney:
— Jonathan Martin (@jmart) March 16, 2020
“Every American adult should immediately receive $1,000 to help ensure families and workers can meet their short-term obligations and increase spending in the economy.”
That is a proposal that has been echoed by some other Democrats, including freshman Congresswoman Alexandria Ocasio-Cortez (D-N.Y.), who wrote on Twitter, “Universal Basic Income is going to have to play a role in helping Americans weather this crisis.”
She also pushed a bill recently introduced by Reps. Ro Khanna (D-Calif) and Tim Ryan (D-Ohio). Ocasio-Cortez added, “[Ro Khanna and Tim Ryan’s] proposal goes up to $6,000/mo depending on need. Mitt Romney just came out for a flat $1,000 universal.”
In a follow-up tweet, she continued, “One way or another we are going to have to address liquidity shock that Americans are facing. Whether it’s UBI, mortgage/rent/loan suspensions, or other means, if we do not act quickly many people will go hungry, be driven out of their homes, or confront other extreme harms.”
One way or another we are going to have to address liquidity shock that Americans are facing.
— Alexandria Ocasio-Cortez (@AOC) March 16, 2020
Whether it’s UBI, mortgage/rent/loan suspensions, or other means, if we do not act quickly many people will go hungry, be driven out of their homes, or confront other extreme harms.
While Universal Basic Income has usually been considered an obscure political idea, it re-entered the political conversation in 2020 as entrepreneur Andrew Yang mounted a formidable run for the presidency.
Khanna, who represents Silicon Valley, is from the newer, more progressive branch of the Democratic Party, along with Ocasio-Cortez. His plan, as he explained in a tweet, is to give an “emergency [earned income tax credit] to give up to $6,000 to every worker who made $65,000 or less last year.”
https://twitter.com/RoKhanna/status/1238859684108554242?s=20
The United States economy has already taken a hit under the coronavirus and that doesn’t show any sign of stopping as the stock market continues to lag.