Rep Ilhan Omar proposed a plan to give Americans $1,000 per adult and $500 per child in an emergency stimulus package to help families as they struggle from the financial ramifications of the COVID-19 outbreak. In an interview with WCCO, Omar acknowledged the similarity between her and Trump's plans.
"I applaud this Administration for thinking about the people, for wanting to put money in people's pockets" stated the freshman Congresswoman.
With a current trillion dollar budget deficit and a projected loss in federal revenues due to the economic downturn, in order to enact a program like Omar's, the federal government would have to turn to the printing press. If passed, the U.S. Treasury would create money out of thin air and send to families as relief.
Monetary inflation leads to a rise in prices because more dollars are chasing an unchanged basket of goods and services. The rise in prices adversely affects low income families the most. Therefore, this plan proposed by Omar would equate to a tax on low income families.
Action 4 Liberty recently called for a plan to give Minnesota families $1,000 back. But the difference with our plan is that the money already exists and is owed to taxpayers. Rep Munson's Give It Back Act takes the $4 Billion budget surplus and returns it to the people in the state who paid taxes.