The bill, called the "Emergency Money for the People Act," was introduced by Rep. Tim Ryan (D-Ohio) and Rep. Ro Khanna (D-Calif.) on Tuesday.
Monthly payments of $2,000 would go to all Americans 16 or older who make less than $130,000 per year. Married couples that earn $260,000 or less would receive at least $4,000. Qualifying families with up to three children would receive an additional $500 per child.
Those who had no earnings, were unemployed, or are currently unemployed would also be eligible, according to the news release.
"A one-time, $1,200 check isn't going to cut it," Rep. Khanna said in the news release.
The Emergency Money for the People Act has 17 co-sponsors. Reps. Khanna and Ryan proposed the first cash infusion plan a month ago.
Under the bill, monthly payments would be guaranteed for at least six months and would renew for another six months unless the employment-to-population ratio returns to the employment level of 60%, before the coronavirus emergency began.