Romney: Give Every American $1,000

Mitt Romney wants to give $1,000 to every American.

Here’s what you need to know.

Romney Plan: $1,000 Check

Sen. Romney (R-UT), the former Massachusetts governor and presidential candidate, says his proposal is part of a necessary Coronavirus response measure to provide economic relief for everyday Americans. Romney says that every American adult should immediately receive a one-time check for $1,000 to help families and workers meet their short-term obligations and increase spending in the economy. Romney notes that Congress took similar action during the 2001 and 2008 recessions.

“The House [of Representatives] coronavirus response package contains critical measures to help families in Utah and across the nation in the midst of the coronavirus outbreak, and the Senate should act swiftly on this legislation,” Romney said. 

Help Small Businesses

Romney also would provide bridge grants to small businesses that apply for, but don’t receive, Economic Injury Disaster Loans. To qualify, eligible small businesses would need to exhibit a 50% decrease in revenue from the same month in the prior year. Romney says that the grants can help small businesses meet short-term obligations such as payroll and rent.

Student Loans: Help Borrowers

Romney proposed two additional ways to help borrowers pay off student loans who are impacted by coronavirus. First, Romney says that Pell grants should be adjusted for any students who had unexpected travel, housing or storage costs. Romney says Congress should update the “Cost of Attendance” in the Higher Education Act to reflect this economic reality. Second, Romney says that in addition to the six-month grace period on federal student loans, graduating students should receive a longer grace period to start repayment of their student loans.

President Donald Trump temporarily waived interest payments on federal student loans to help borrowers who will be financially impacted by the coronavirus. While Trump called for the end of the Public Service Loan Forgiveness program for several reasons in his annual budget, Trump has also proposed a simplified income-driven repayment plan that would offer student loan forgiveness.Former Vice President Joe Biden said, if elected president, borrowers should be able to discharge student loans in bankruptcy. Sen. Bernie Sanders (I-VT) has said that all student loans should be forgiven, including both federal and private student loans.