As the United States continues to contemplate a new round of stimulus checks amid the coronavirus (COVID-19) pandemic, one of the country's most famous businessmen is making his pitch.
Talking to CNBC's Make It, Mark Cuban suggested that every American household should receive a $1,000 stimulus check every two weeks for the next two months.
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“We need it as much now as we did back then,” Cuban said, referencing the start of the coronavirus pandemic, when U.S. households received stimulus checks as much as $1,200 per adult and $500 per child depending on income level.
Cuban first made his suggestion in May, as the coronavirus took its toll on the country's economy due to mandatory closures. Under Cuban's proposal, each household would receive the checks regardless of income level.
“I don’t care what they spend it on,” the Dallas Mavericks owner told KNX 1070 News Radio in May. “It could be candy, it could be rent, it could be their mortgage, it could be anything they deem necessary or that they want.”
Four months later, nearly 13 million employees remain unemployed, with thousands of businesses having since closed.
"Those without [help] are struggling badly,” Cuban says. “We need to get them help.
"The whole goal is to get that money every two weeks into the economy. Once businesses start having demand, even if they’re closed and working online, then there is a reason for them to be able to bring back employees and retain those employees if demand is sustained.”
In July, the $2 trillion coronavirus aid package known as the Coronavirus Aid, Relief, and Economic Security (CARES) act expired. In the time since, Congress has debated an additional stimulus package but has yet to agree to new legislation.