Congress is working on a new economic rescue package for the nation as coronavirus cases are on the rise again. One financier suggests maybe it would be better if the money came straight to us.
Another round of stimulus money is coming for U.S. taxpayers, but how much isn't decided just yet. Congress is talking about another $1,200 per person, but Senate Republicans are pushing for a $1 trillion overall package, while House Democrats want something on the order of $3 trillion.
Gulf Coast Bank and Trust president Guy Williams says rather than send just some of that money to taxpayers, why not just send all of it?
"They're slicing and dicing and sending it to different agencies and building a new headquarters for the FBI. If you took the $1 trillion figure and said, 'you know what? We're just going to send this to Americans,' a family of four would get $11,000," said Williams.
Williams said putting that money directly in taxpayers' pockets would have a greater overall impact on the economy than spreading it around inside the DC beltway.
"It seems to me, instead of giving it to different agencies, different constituencies in Washington, it might make more sense to just send direct checks, if you're going to spend that much money," Williams suggested.
And Williams said if the House Democrats' preferred bill were divvied up among taxpayers, a family of four would get $34,000.
Click here to listen to all of Guy Williams' interview with WWL's Newell Normand.
