The proposed recipient list for this is massive.
On April 16, far-left Democrats Rashida Tlaib(D-MI) and Pramila Jayapal (D-WA) have proposed an added “boost” to the CARES Act that provided a one-time $1200 payment to millions of Americans via pre-paid debit cards.
They called it the “Automatic BOOST to Communities Act” or the ABC Act. This is spinning off from Tlaib’s prior proposal, the Building Our Opportunities To Survive and Thrive (BOOST) Act which is an anti-poverty measure.
The CARES Act provided many Americans with financial relief in the form of a $1,200 stimulus check. But as that program rolls out, it has become apparent to lawmakers that more financial assistance is needed. There are currently several proposals from various lawmakers that would provide Americans with ongoing financial support. You can learn more about current proposals here.
Now you can add the Automatic BOOST to Communities (ABC) Act proposal, which was introduced by Congresswomen Rashida Tlaib (D-MI) and Pramila Jayapal (D-WA).
If approved, the ABC Act would provide every American with a BOOST debit card that is preloaded with $2,000. The card would be reloaded with $1,000 each month until one year after the end of the COVID-19 crisis.
This isn’t just a relief bill for Americans, non-citizens would receive the money as well. The aim is so that no one gets left behind, so the debit card would be issued for every individual in the country, including children.
Thus, a family of four (mom, dad, two kids) would receive an initial payment of $8000 and $4000 each month for a year thereafter.
Here are the eligibility requirements:
- Non-citizens (Green Card holders, illegal aliens, and temporary visitors whose stay exceeds 3 months)
- Individuals who do not have a bank account, social security number, or permanent address.
- People living in unincorporated territories or protectorates and Americans living abroad.
Does this mean that billionaires like Bill and Melinda Gates and their three children and Mark Zuckerberg, his wife, and their two children would also receive the money? It would seem that way. So, too, would all of the bored celebrities posting cringe-inducing quarantine videos. After all, they are a part of “everybody”, right?
How will this massive program be paid for?
Well, just mint a couple of trillion-dollar coins, that’s how. Easy-peasy.
The ABC Act would be funded directly from the Treasury with no additional debt issued by minting two $1 trillion platinum coins. Additional coins would be minted as needed. Title 31 of the U.S. Code gives the Treasury Secretary the authority to mint and issue platinum bullion coins (see 31 U.S.C. § 5112(k)).
Ummm… this seems like a very bad idea.
Printing more money results in devaluing the currency and during an economic downturn caused by a global pandemic with tens of millions of people out of work–it seems just a wee bit short-sighted.
It appears that Representatives Tlaib and Jayapal are using the same playbook that socialists have been using for decades and expecting different results. Isn’t that the colloquial definition of insanity?