Bill aims to create World War II-like bonds to help fund federal government's coronavirus response
WASHINGTON DC (WFSB) - A bill aimed at creating bonds, such as those made during World War II, to help fund the federal government's public coronavirus response will be introduced on Wednesday.
Rep. John Larson, who represents Connecticut's 1st District, called it the Victory Bonds Act of 2020.
The bill will direct the Department of the Treasury to create government savings bonds, with all revenue directed to funding the federal government’s public health response to the COVID-19 pandemic and support for small businesses.
“During World War II, millions of Americans heeded the call of unity and came together to help their country," Larson said. "They were able to do so from their homes, by purchasing victory stamps and bonds. We are now engaged in a war against a silent enemy, the coronavirus. Many Americans are asking how they can help while adhering to social distancing guidelines. Through this legislation, they can do so by joining a voluntary and patriotic effort that rallies the nation behind defeating a common enemy."
The nation’s health and economic security are inextricably linked, and testing, treatments, and vaccines are critical for a strong recovery, Larson noted.
"The Victory Bonds Act creates the opportunity for Americans to protect their people and emerge triumphant over this disease," he said. "This battle is the fundamental moral imperative of our time. The time to defeat this virus is now.”