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Rep. Nancy Mace Introduces Penny Plan to Balance Budget

March 28, 2022

Washington, D.C. – Rep. Nancy Mace released the following statement after the introduction of her Penny Plan to Enhance Infrastructure Act of 2022, a companion to Sen. Rand Paul’s bill to balance the federal budget within five years:

“Today the President released his massive 5.8 trillion budget request to Congress. Despite our debt now topping over $30 trillion, the Administration is still calling for massive federal spending initiatives.

I am happy to introduce companion legislation in the House to bring some fiscal sanity to Washington. Four years ago, we could have balanced the Federal budget by freezing spending; then, by subtracting a penny from every dollar spent. 

Today the debt is so high – growing $3 trillion in just the past year – that we would need to cut five and a half pennies from every dollar spent in order to balance the budget,” said Rep. Nancy Mace. 

“Inflation is at a 40 year high and Congress continues to spend as if the bill will never come due.” 

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