Mark Cuban wants every household in the United States to receive $4,000 over the course of two months, and he wants them to spend it.
In an interview with CNBC this week, the billionaire businessman said the government should disburse $1,000 via direct deposit every two weeks for the next two months.
“Those without [help] are struggling badly,” Cuban told CNBC. “We need to get them help.”
Cuban first pitched the idea in May but is resounding the alarm as new spending data show people saving more than buying as uncertainty surrounding the coronavirus pandemic disrupts retail and transportation markets.
“In addition, because this will take time, we need to consider an interim spending stimulus program,” Cuban tweeted in May. “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.”
During a radio appearance, the Dallas Mavericks owner said he doesn’t believe restrictions should be placed on how a person chooses to spend the money.
“I don’t care what they spend it on,” Cuban said on KNX 1070 News Radio in May. “It could be candy, it could be rent, it could be their mortgage, it could be anything they deem necessary or that they want.”
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