Mark Cuban, a self-made billionaire investor and owner of the Dallas Mavericks, said American households should receive a $1,000 stimulus check every two weeks over the next two months to help them survive amid the ongoing COVID-19 pandemic.
In May, Cuban made the same proposal. “I still believe in doing it the same exact way,” he said during an interview with CNBC Make It on Wednesday. His idea was, Americans who will get a stimulus check must spend it within ten days or it will expire. He called it a “use it or lose it” interim spending stimulus program.
The self-made billionaire explained that currently, Americans are experiencing “two economies” or two sets of realities—one for those who are capable of surviving and one for those who cannot.
The latest data from the U.S. Department of Labor (DOL) Bureau of Labor Statistics show that there were 13.6 million jobless Americans in August. The nation’s unemployment rate was 8.4%.
Cuban said, “Those without [help] are struggling badly. We need to get them [some] help.” He believes that the federal government should provide a $1,000 bi-weekly stimulus check to Americans no matter their income level.