Mitt Romney called on the federal government to send every adult $1,000 immediately to help cope financially with the economic damage caused by the spread of the coronavirus.
“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,” Romney, a Utah Republican senator and 2012 presidential nominee, said in a statement Monday.
Romney called for the provision as part of a stimulus package he hopes will pass in addition to a House measure now under negotiation in Congress. Besides the $1,000 check, Romney is calling for grants for affected small businesses with revenue loss greater than 50%, adjustments to the Pell Grant requirements for students hurt by the closure of colleges and universities, and a requirement for health insurance companies to cover telehealth services.
Congress is under pressure to get money out the door quickly to households to prevent a self-reinforcing collapse in spending beyond the immediate effects of the pandemic.
Sen. Tom Cotton also said Monday that the government should directly give people cash.
“We’re going to do everything we can to get cash into the hands of affected workers & families as quickly as possible so we can all get through this pandemic together,” the Arkansas Republican said on Fox News.
There was Republican resistance, initially, to the House coronavirus economic package released last week for being too big.
Cotton said that the House emergency aid package set for consideration in the Senate “doesn’t go far enough & fast enough.”
“The House bill sets up a complicated relief system that relies on paid sick leave & refundable tax credits. That won’t move quickly enough & puts undue pressure on businesses to lay off workers,” said Cotton.
President Trump on the other hand, is asking for a payroll tax holiday, which would amount to roughly an $850 billion stimulus this year.
Having the IRS send out checks, in the form of tax rebates, would provide money to the public even more quickly. George W. Bush enacted a stimulus of about $150 billion in 2008 through such rebates.
