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US Lawmakers Reintroduce Digital Dollar In Latest Stimulus Bill
Summary: U.S. lawmakers are once again floating the idea that a digital dollar can be used to provide taxpayers with stimulus payments to endure the economic recession caused by the COVID-19. Congresswomen Rashida Tlaib (D-Mich.) and Pramila Jayapal (D-Wash.) proposed the Automatic BOOST to Communities Act (ABC Act), which would have the federal government issue $2,000 ...
U.S. lawmakers are once again floating the idea that a digital dollar can be used to provide taxpayers with stimulus payments to endure the economic recession caused by the COVID-19.
Congresswomen Rashida Tlaib (D-Mich.) and Pramila Jayapal (D-Wash.) proposed the Automatic BOOST to Communities Act (ABC Act), which would have the federal government issue $2,000 per month to residents by minting a pair of $1 trillion coins and using these to back the payments. The act also looks to bring back the idea of a digital dollar, describing the concept using similar language to a series of bills introduced last month.
Under the ABC act congress would allow the fed to develop “FedAccounts,” meaning “Digital Dollar Account Wallets,” which would give U.S. residents, citizens and businesses located in the country access to financial services.
By Ramsey Baker
Tags: ABC act,Coronavirus,COVID-19,Digital Dollar,Lawmakers,United States
Link: US Lawmakers Reintroduce Digital Dollar In Latest Stimulus Bill [Copy]
