"The "Automatic BOOST to Communities Act" (pdf) would deliver a $2,000 pre-paid debit card to every American, with $1,000 being paid monthly after that until a year after the coronavirus crisis ends. Tlaib proposes to pay for the cost of the program by calling on the Treasury to use its authority under federal law to issue two trillion dollar platinum coins. The move would not add to the debt.
"Tlaib wants to take advantage of an obscure Treasury authority to issue new currency through minting platinum coins, and then give that currency to people," said Carter. "No new debt, no weird Federal Reserve programs, just cash straight to folks."
The bill also uses a broad definition of "every person," including non-citizens, children and other dependents, those in territories and protectorates, and those without bank accounts. "
"Tlaib wants to take advantage of an obscure Treasury authority to issue new currency through minting platinum coins, and then give that currency to people," said Carter. "No new debt, no weird Federal Reserve programs, just cash straight to folks."
The bill also uses a broad definition of "every person," including non-citizens, children and other dependents, those in territories and protectorates, and those without bank accounts. "