Dallas Mavericks owner Mark Cuban says families across America should receive another round of stimulus checks — but they should come with some requirements.
What’s going on:
Republicans in the Senate have shot down the bill in discussions with the media. The bill is not expected to pass.
It's time to face the fact that PPP didn't work. Great plan, difficult execution. No one's fault. The only thing that will save businesses is consumer demand. No amount of loans to businesses will save them or jobs if their customers aren't buying.— Mark Cuban (@mcuban) May 17, 2020
Cuban said there should be an interim spending stimulus program that would give 128 million Americans $1,000 checks every two weeks.
But, he said, the checks must be spent within 10 days to ensure the money flows back into the economy.
“Cost about $500b, but it will allow for demand for non essential products and services to increase, hopefully keeping most businesses alive, as we learn what the impact of re-opening is on the spread and whether or not employment grows organically,” he tweeted.
There is certainly a lot of risk in this use it or lose it approach. A lot to be considered. But it could be patterned after @USDirectExpress. Let me know your thoughts— Mark Cuban (@mcuban) May 17, 2020
In addition, because this will take time, we need to consider an interim spending stimulus program. All 128m households could get a $1k check every 2 weeks for the next 2 months that MUST BE SPENT WITHIN 10 DAYS OF RECEIPT OR IT EXPIRES. This "use it or lose it" prog will— Mark Cuban (@mcuban) May 17, 2020
More on Cuban
Cuban has been discussing plans for how to keep people safe at the American Airlines Center — where the Mavericks play — during the coronavirus pandemic and afterward, as I wrote for the Deseret News.
He told ESPN 103.3 KESN-FM in Dallas that the Mavericks might bring back fans in a limited capacity before there’s a vaccine, according to the Dallas Morning News. But, Cuban said, there’d be staggered fan arrival. He said he would look to Disneyland’s plans before he decides on what happens.
“We may do that almost like Disneyland, do it like there’s a procession and you have people guiding you to your seat,” Cuban said. “Or the example I use is more like a haunted house where you wait in line and you go through the haunted house, but you’re not allowed to touch anything, and everybody just is guided to their seats at the right time.