Sen. Mitt Romney seems to be channeling former Democratic presidential candidate Andrew Yang in his proposal to give every U.S. adult $1,000 to help them deal with the economic impact of the coronavirus outbreak. 

“Every American adult should immediately receive $1,000 to help ensure families and workers can meet their short-term obligations and increase spending in the economy. Congress took similar action during the 2001 and 2008 recessions,” he said. “While expansions of paid leave, unemployment insurance, and SNAP benefits are crucial, the check will help fill the gaps for Americans that may not quickly navigate different government options.” 

The Republican senator proposed the measure amid efforts in Washington D.C. to push a second relief package through the Senate offering free testing and limited paid sick leave. 

Critics of the bill say it falls short of addressing the massive economic fallout of the outbreak. 

"We also urgently need to build on this legislation with additional action to help families and small businesses meet their short-term financial obligations, ease the financial burden on students entering the workforce, and protect health workers on the front lines and their patients by improving telehealth services," Romney said in a statement.

Romney has also called for giving “bridge grants” to small businesses that apply but don’t receive Economic Injury Disaster Loans under the Small Business Administration. Qualified businesses would need to show a 50 percent decline in monthly revenue from the prior year.  

The grants will help businesses afford short-term costs such as payroll and rent that could help them avoid bankruptcy down the line, Romney said. 

The same statement includes proposals to defer student loan payments and adjust federal Pell Grants to cover additional costs related to the coronavirus. 

In addition, Romney has proposed requiring all private insurance companies to cover telehealth services, with the caveat that the federal government would reimburse all costs.

Share:
More In Politics
Lawmakers Push Meta On Paid Ads Pushing Russian Misinformation
Six House lawmakers are calling on Meta to stop paid ads from Chinese news companies that push Russian misinformation regarding the war in Ukraine. ​​Matt Skibinski, General Manager, NewsGuard Technologies joins Cheddar to discuss the role of social media in this war.
Markets Close Higher as Investors Digest Latest Fed Decision
Reva Shakkottai, Senior Vice President and financial advisor at RBC Wealth Management, joins Cheddar News' Closing Bell, where she elaborates on factors besides Wednesday's Fed decision that led to gains across the major indexes on Thursday, including new home construction and jobless claims data.
Rep. Adam Schiff at SXSW 2022 Says Americans Willing to Sacrifice to Sanction Russia
Representative Adam Schiff (D-Calif. 29th District) joined Cheddar News at South By Southwest to discuss the variety of sanctions that the United States has placed on Russia since its invasion of Ukraine began last month and the impacts they are having both domestically and abroad. With rising gas prices, especially in states like California, Schiff noted that the American people are willing to make sacrifices in order to uphold their values and suggested that crisis may be a warning to shift away from fossil fuels. "At the end of the day though, this ought to be a wake up call that we need to stop our reliance on this oil economy and move to renewable sources of energy," he said. Schiff also explained his remarks about the January 6 commission investigating those closest to former President Trump and touched on a disturbing case in San Francisco where the police department used rape kit samples to ID a murder suspect.
Markets Open Lower As Fed Announces Interest Rate Hike
Markets opened lower as the Federal Reserve announces plans to hike interest rates by a quarter point, while signaling six additional rate hikes later this year. Gary Schlossberg, Global Strategist, Wells Fargo Investment Institute, joined Cheddar's Opening Bell to discuss.
Apple Doubling Down on $100 Million Racial Equity and Justice Initiative From SXSW 2022
Apple's Racial Equity and Justice Initiative is a $100 million program aimed at combating systemic racism while working to advance racial equity across the country. Alisha Johnson, director of the initiative, joined Cheddar at SXSW to discuss the work being done. "We focused on three critical areas. The first is education. The second is criminal justice reform, and the third is economic empowerment, really looking first in our own supply chain, how can we really increase our spend with Latinx, Hispanic, and indigenous-owned businesses," she said. "And then how can we go further to empower entrepreneurs who have been cut out of access to funding and capital and really help them to get the funding."
Load More