Stimulus: Twitter Sounds off on Mark Cuban's Suggestion for $1,000 Payments Every Two Weeks
05/20/2020 08:16 am EDT
The plan would cost $500 billion, but Cuban believes this would drive up an increase in demand for "non essential products and services," which could keep businesses alive while the government figures out the impact re-opening has. "There is certainly a lot of risk in this use it or lose it approach. A lot to be considered," Cuban wrote in the end. He also asked Twitter users for their thoughts, and they had hundreds of them.
The first economic impact payment of at least $1,200 per American taxpayer was sent out last month as part of the CARES Act, which did not include a second payment. There are several proposals in Congress, but none have become law. On Friday night, the House of Representatives narrowly passed the Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act, which includes another payment, but it is unlikely to pass in the Senate. The proposed second payment would entitle some households up to $6,000. It would also be sent to anyone with an Individual Taxpayer Identification Number (ITIN), even those without Social Security numbers.
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