Billionaire entrepreneur and Dallas Mavericks owner Mark Cuban said Monday “it’s time to face the fact that PPP didn’t work” to help save businesses from coronavirus damage and called for a “trickle up economics” federal program instead.
said Monday “it’s time to face the fact that PPP didn’t work” to help save businesses from coronavirus damage and called for a “trickle up economics” federal program instead.“No amount of loans to businesses will save them or jobs if customers aren’t buying,” Cuban said. He called for a transitional federal jobs program, hiring millions of unemployed Americans to work as contact tracers.
The program would cost around $500 billion, according to Cuban, “but it will allow for demand for nonessential products and services to increase, hopefully keeping most businesses alive, as we learn what the impact of reopening is on the spread and whether or not employment grows organically.”
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