Townsend plan


noun

a pension plan, proposed in the U.S. in 1934 but never passed by Congress, that would have awarded $200 monthly to persons over 60 who were no longer gainfully employed, provided that such allowance was spent in the U.S. within 30 days.

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Origin of Townsend plan

After Francis E. Townsend (1867–1960), U.S. reformer, its proposer
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2020