Varsity Spirit founder pushes for larger COVID-19 relief checks
MEMPHIS, Tenn. (WMC) - The man behind the No. 1 brand in cheerleading has become a champion for larger COVID-19 relief checks for all Americans.
Those cheerleading competitions you see on ESPN are the peppy brainchild of Jeff Webb.
"So, in effect, we almost created a new sport and a new industry,” said Webb.
Varsity Spirit has the number one position in cheerleading camps, competitions and apparel. The company employs 900 nationwide. Webb serves as Chairman of Varsity, which was sold to private equity firm Bain Capital in 2018.
Now, Webb has his own Political Action Committee, American Populists, which he calls a movement to revitalize America’s middle class that’s hurting due to COVID-19.
"If you believe you’re going to be in it for at least three months, give them the money now. Put it in their pockets. Give them security. The amount of anxiety that we see in this country right now is like nothing probably since the war -- World War II,” said Webb.
Webb wants to give a trillion dollars’ worth of COVID-19 aid: $3,000 to every U.S. citizen, men, women and children. The White House and Congress are negotiating a lesser amount of direct aid payments as a result of the pandemic.
"Listen, I've been a hawk on the deficit. I think the fact that we've built up a $22 trillion deficit is practically criminal. I've been talking about it but it's where we are now,” said Webb,
Webb says he wants to frontload the U.S. stimulus package to American consumers now, so that it helps the economy survive COVID-19.
Webb says he frontloaded every investment he could in his business career, and it paid dividends in the end.
The company he started with very little is now worth more than $2 billion.
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