WASHINGTON–Tonight, in a watershed moment, republicans agreed to their own resolution for a universal basic income to all Americans. The plan will serve to bolster the economy and prevent a recession as fears over the coronavirus have left much of the country in a virtual shutdown.
Key senators said that, after hours of deliberation, they will support giving each American one dollar per month until the spread of COVID-19 subsides.
“They want to show people that they can be as compassionate as democrats,” said a source in Congress, “and they believe the extra income will inject life into the economy. This is money every day Americans will spend on food, gas, and medicine during the outbreak.”
The source said republicans insisted the plan be short-term and fiscally responsible.
What is the UBI?
Andrew Yang made popular the idea of a universal basic income during his recent presidential campaign. Supporters claim that a guaranteed monthly check from the government results in numerous societal benefits.
Yang proposed giving every American $1,000 each month. Senator Bernie Sanders has suggested up to $2,000 during the current crisis. Republicans have not supported the idea, until now.
Leading economists say that one dollar per month won’t sufficiently stimulate the economy, but republicans disagree, and call the numbers budget friendly.
“I don’t know how you can’t call this substantial when, under our plan, I could go into the Dollar Tree once a month and buy anything on the shelf,” one senator reportedly said.
A vote has not been made yet and negotiations remain ongoing, as no democrats have signed onto the proposition. In addition, the Trump administration is reportedly on-board with giving out much higher amounts. This could pressure congressional republicans to agree to figures more in line with democratic proposals.
“The numbers could change or the plan might fall through altogether, but one dollar a month is where we’re at right now,” said the source.
This story is developing….
