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Mark Cuban suggests $1,000 biweekly stimulus checks for 2 months

The Dallas Mavericks owner and self-made billionaire says coronavirus aid is needed as much now as it was when the pandemic began.

Mark Cuban says every household in the United States should receive a $1,000 stimulus check every two weeks for the next two months in response to the coronavirus pandemic, CNBC reports.

The Dallas Mavericks owner, self-made billionaire and "Shark Tank" star told the news outlet that Americans need coronavirus aid “as much now as we did back then,” when the pandemic hit hard in the U.S. 

“Those without [help] are struggling badly,” he told CNBC. “We need to get them help.”

During the first round of coronavirus stimulus payments, many Americans received $1,200 per adult and an additional $500 for each eligible child, for individuals making less than $75,000 and couples making less than $150,000 annually. Those direct payments came from the CARES Act passed in March.

One key aspect to Cuban's proposal is that families would need to spend those checks within 10 days of receiving the money. The "use it or lose it" approach would promote more spending in the economy and help boost demand for non-essential products, Cuban has said

While lawmakers in both parties have expressed support for another round of stimulus payments, they've yet to reach an agreement. And none of the proposals currently being considered are as expansive as what Cuban has in mind. 

Democrats in the U.S. House of Representatives said Thursday they're redrafting a coronavirus aid bill that they could pass next week, to show that the party isn't giving up on passing relief before the November 3 election.

RELATED: Democrats drafting new coronavirus relief bill with more direct payments to Americans

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The revised measure is likely to contain scaled-back proposals to give aid to state and local governments, $1,200 direct payments to most Americans, more than $100 billion in aid to schools seeking to safely reopen and funding for renewed pandemic jobless benefits and production of a COVID vaccine.

The Associated Press contributed.

Credit: AP
In this April 23, 2020, photo, President Donald Trump's name is seen on a stimulus check issued by the IRS to help combat the adverse economic effects of the COVID-19 outbreak, in San Antonio.