Pelosi Says She’ll Look Into Minimum Guaranteed Income
With the COVID-19 pandemic ravaging the American economy, the government has taken unprecedented steps in terms of stimulus payments and small business loans. A second small business loan package was again passed last week in the House.
Many small business owners, though, have had trouble accessing the funds. And the $1,200 checks sent to many Americans are already stretching thin. On Monday, the Speaker of the House, Nancy Pelosi, said that the idea of a guaranteed minimum income could be worth looking into.
During an interview with MSNBC’s Stephanie Ruhle, Pelosi said that the stimulus checks and loans might not have been enough. “Well, I think we should extend the time, I really do,” she told the host. “I always thought that was too short a time. I think we should extend the time, I really do. I always thought that was too short a time. I think we should extend the time.”
The Speaker continued:
“Others have suggested a minimum income for — 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, as important as that is to the vitality of our economy, and other people who are not in the public sector to meeting our needs in so many ways that may need some assistance as well.”
This idea is unlikely to pass muster with the Administration. In late March, Treasury Secretary Steve Mnuchin said the $1200 should last most families up to 10 weeks.