Rep. Rashida Tlaib has proposed sending everyone in the United States $2,000 immediately and then $1,000 per month to counter the economic fallout of the coronavirus pandemic.
The Michigan Democrat’s plan would be financed by having the Federal Reserve create new money on behalf of the Treasury. To skirt the federal debt limit, the U.S. Mint would create two $1 trillion coins, and the Treasury would deposit them in its account at the Fed.
Tlaib, a member of the small group of left-wing freshman House Democrats known as “The Squad,” described the plan as a “truly universal relief proposal.”
I fully support the @FSCDems #COVID19 economic response proposal. I also want to encourage leadership to consider my truly universal relief proposal on behalf of #13thDistrictStrong.
— Congresswoman Rashida Tlaib (@RepRashida) March 21, 2020
Under Tlaib’s proposal, everyone in the U.S., including illegal immigrants, would receive a $2,000 debit card immediately, either through the mail or by having a dedicated government corps seek them out. Families would receive that amount for each family member. The cards would then be refilled with $1,000 monthly until one year after the end of the crisis.
The plan goes far beyond the measures proposed by Senate Republicans as part of a stimulus package. Their initial plan featured a one-time $1,200 check for adults earning below a certain income level. Tlaib’s proposal is more in line with that of House Financial Services Committee Chairwoman Maxine Waters, a California Democrat.
The broad shutdown of business to prevent the spread of the virus has prompted governments to embrace unprecedented emergency measures and massive relief programs. On Friday, for instance, the United Kingdom’s chancellor of the exchequer said that the government would cover 80% of the wages of workers sidelined by the crisis.
