Why Shark Tank Entrepreneur Kevin O'Leary Says You Should Give $ 2,000 A Month To Unemployed For A Whole Year | The State

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After months of uncertainty, the coronavirus relief package from $ 900,000 million It will provide a much-needed lifeline for unemployed Americans: it includes a $ 300 increase in weekly unemployment benefits for 11 weeks and for those with self-employment income they will receive an additional $ 100 increase.

Without the stimulus package, a large number of CARES Act benefits would have expired in December and left millions of people without resources to survive. However, according to the businessman Kevin O’Leary, more assistance should have been provided to people who they don’t have a job rather than funding package provisions like the $ 600 stimulus checks and the $ 284 billion Paycheck Protection Program (PPP).

“I would have preferred Congress to take the money and give it all directly to people who are in dire straits due to prolonged unemployment as a result of the pandemic,” O’Leary, an investor known for appearing on the show, told CNBC. Shark Tank ”from ABC network and president of investment funds O’Shares.

O’Leary recommended that Congress use the funds to extend unemployment benefits. For example, he said: “If you become unemployed after March and are still unemployed, you could receive $ 2,000 dollars a month for the next 12 months or until you find a job. “

O’Leary’s opinion was expressed in October, before the package of $ 900,000 million it was approved in December by Congress and signed by President Trump.

Related: What are the states that started paying the extra $ 300 a week in unemployment benefits?

Michele Evermore, senior researcher and policy analyst for social security at the National Employment Bill, said in an interview with CNBC that she agrees that the approved relief “is a very small amount.”