The mechanics of Rep. Tlaib’s proposal are straightforward:
- Congress passes the Automatic BOOST to Communities Act (#ABCAct);
- The Treasury Secretary directs the Mint to issue as many $1 trillion platinum coins as necessary to cover the initial and ongoing funding requirements of the emergency relief program established by the #ABCAct;
- The Mint deposits the coins at the Federal Reserve, which credits the Mint's account at the Federal Reserve for their full face value;
- The Treasury Secretary directs the Mint to transfer the newly acquired funds to the Treasury's general operating account at the Federal Reserve, at which point they become available to spend on the emergency relief program.