During the last few days, members of the U.S. Congress have been trying to pen a stimulus plan to help the American economy. Since then, a few bills have been submitted by representatives and two particular proposals House democrats have tabled talk about a “digital dollar” and “digital ledger entries.” Following the submission of the “Take Responsibility for Workers and Families Act,” a revision was filed that does not contain the “digital dollar” section.
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Two Congressional Bills Speak of Digital Dollars and Ledger Entries Kept by the Fed
News.Bitcoin.com recently reported on the Michigan lawmaker Rashida Tlaib’s “Boost Act” which aims to give American citizens $1K per month if Congress approves the idea. Tlaib’s concept was derived from the framework behind Modern Monetary Theory (MMT) and allegedly the funding would not cause any debt. The Michigan democrat’s bill is also bolstered by its co-author, Modern Money Network’s Rohan Grey, and bureaucrats like Bernie Sanders and Alexandria Ocasio-Cortez (AOC) approve the act.
Following Rashida Tlaib’s proposal, two more bills have been submitted that offer a similar approach. The “Financial Protections and Assistance for America’s Consumers, States, Businesses, and Vulnerable Populations Act” and the “Take Responsibility for Workers and Families Act” (TRWF) both contained phrases and terms that hint at a “digital dollar.” However, shortly after the “digital dollar” section in the TRWF act made headlines, it was removed.
In fact, both bills look like they were authored by the same writer. Just before the “digital dollar” section within the TRWF bill was deleted it read:
The term ‘digital dollar’ shall mean a balance expressed as a dollar value consisting of digital
