Cuban, “Shark Tank” investor and Dallas Maverick owner, told CNBC he is in favor of sending $1,000 stimulus checks to American households every two weeks for the next two months. The check would be distributed regardless of income.
Families would then have 10 days to spend the funds to provide an immediate boost to the local 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,” Cuban said.
Cuban’s plan is just the latest one to emerge even as Congress appears to be at a stalemate on an overall relief package, let alone any direct payments. In March, Congress approved direct payments – up to $1,200 for individuals and $2,400 for married families, as well as $500 for dependent children – but remain far apart on a second round. And, faced with a battle over replacing late Supreme Court Justice Ruth Bader Ginsburg and the November general election, it seems likely no compromise will be reached soon.
Cuban, however, said the stimulus is needed “as much now” as it was in the early days of the pandemic, adding the U.S. has “two economies.”
“Those without (help) are struggling badly,” he said. “We need to get them help.”
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