Townsend plan

noun
  1. 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.

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. 2018