As one of his Chinavirus relief ideas Utah Republican Sen. Mitt Romney has joined the Yang Gang and proposed a universal basic income (UBI) to all Americans laid off from work. Admittedly, Romney’s UBI is a proposed one time only $1,000 distribution to workers who depend on their paycheck to live and would not continue once the current crisis is resolved.
Bars, restaurants and resorts around the country are shutting down eat-in dining and will only be serving take out and delivery food. Workers who service the hospitality industry and other small businesses like gyms, yoga studios and coffee shops are going to be out of work. Romney and other Federal legislators are attempting to find a way to get money directly to these workers.
Now that the House-passed coronavirus aid plan is under Senate scrutiny and legislative negotiation all manner of ideas are being worked into the compromise bill. Because of the financial market collapse and unprecedented restriction on business the need to find a viable solution to this disruption is paramount. A UBI will be very difficult to unwind even if it is instituted on a temporary basis.