Universal basic income could be worthy of attention, Pelosi says

U.S. House Speaker Nancy Pelosi, a Democrat from California, speaks throughout a information convention on Capitol Hill in Washington D.C., U.S., on Tuesday, April 21, 2020.

Sarah Silbiger | Bloomberg | Getty Images

WASHINGTON — House Speaker Nancy Pelosi mentioned Monday that Congress may have to contemplate a assured minimal revenue for Americans as one approach to meet individuals’s fundamental wants whereas the nation stays paralyzed by the coronavirus pandemic.

“Let’s see what works, what is operational and what needs attention,” the California Democrat mentioned in an interview with MSNBC.

“Others have suggested a minimum income, a guaranteed income for people. Is that worthy of attention now? Perhaps so. Because there are many more people than just in small business and hired by small business … that may need some assistance as well.”

The thought of a government-guaranteed minimal revenue has gained consideration previously 12 months thanks largely to Andrew Yang, who ran within the 2020 Democratic presidential major on a platform constructed round common fundamental revenue. Yang did not win any delegates, however he constructed a faithful following and raised the problem of UBI onto the nationwide debate stage. 

More lately, because the coronavirus pandemic has ravaged the U.S. economic system and compelled greater than 25 million Americans to hunt unemployment advantages, the concept of assured revenue has reemerged as a potential approach to stabilize the economic system and assist individuals meet their fundamental wants whereas hundreds of thousands of companies are below pressured closures.

In one of many final coverage speeches of his 2020 presidential marketing campaign, Vermont Sen. Bernie Sanders proposed in mid-March that Congress give each family in America $2,000 a month all through the Covid-19 outbreak.

Supporters of UBI have additionally famous the similarities between assured revenue plans and the $1,200 money fee for each American making lower than $90,000 yearly, which was included within the $2 trillion CARES Act handed by Congress and signed into regulation by the president March 27. 

“I’m pleased to see the White House adopt our vision of putting money directly into the hands of hard-working Americans,” Yang mentioned when the direct funds had been first introduced. “It’s unfortunate to see this development take place under the current circumstances, but this is exactly what universal basic income is designed to do — offer a way to ensure that Americans can make ends meet when they need it most.”

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