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Connie Mack Introduces His 'Penny Plan' That Would Balance the U.S. Budget in Seven Years

Connie Mack Introduces His 'Penny Plan' That Would Balance the U.S. Budget in Seven Years

Representative Connie Mack, Republican who represents Florida's 14th congressional district, talks about a new 'Penny Plan' he has proposed to balance the U.S. budget in 7 years. Representative Mack says the plan is so simple that "even members of congress can understand it".

Rep. Mack introduced H.R. 1848, the “One Percent Spending Reduction Act” – also known as the “Mack Penny Plan”. He says H.R. 1848 would: Cut federal spending by 1% each year for 6 years, Cap spending at 18% of GDP in the 7th year, Balance the federal budget in the 8th year, and Save taxpayers $7.5 trillion over 10 years.

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