GOP Senate Obliterates Rand’s Penny Plan, Rejects Balanced Budget in Embarrassing 22-69 Vote

UPDATE: The Senate voted down the motion to proceed on the ‘Penny Plan’ proposed by Sen. Rand Paul (R-KY) by a 22-69 margin today.

The roll call vote can be seen here. Republicans such as Sens. Lindsey Graham (R-SC), Tom Cotton (R-AR), Mitch McConnell (R-KY), Marco Rubio (R-FL), and Rick Scott (R-FL) joined Democrats to vote down the fiscally conservative measure.

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Paul’s full address to the Senate in favor of his rejected plan can be seen here:

Sen. Rand Paul’s ‘Penny Plan’ to balance the budget within five years by reducing spending by two pennies on the dollar for every dollar spent by the federal government from one year to the next will receive a Senate vote to proceed this afternoon.

“I ran for office to put a stop to Washington’s out-of-control spending and skyrocketing debt. It’s time for conservatives to govern like conservatives, and my budget plan gives our Republican-controlled Congress a chance to prove to the American people that it is serious about getting our fiscal house in order,” Paul said in a press release.

In addition, the budget proposed by Paul includes provisions that would expand Health Savings Accounts (HSAs) so Americans could more easily budget for their own healthcare. It also provides reform for Congress’ reconciliation and budget processes without impacting Social Security.

Paul’s proposal would reduce projected increases in spending by $404.8B in fiscal year 2019 and would reduce spending by $13.35T over the next decade relative to the baseline. It would put America quickly back on the road toward fiscal solvency.

“A balanced federal budget isn’t a pie-in-the-sky dream or empty rhetoric. Once again, I am introducing a concrete plan that is achievable and allows Congress maximum flexibility to prioritize spending. It leads the way toward fiscal responsibility, an even stronger economy, and a future full of opportunity for the American people,” Dr. Paul said.

Today’s vote on the legislation is scheduled for 5:30pm in the Senate:

President Donald Trump criticized former President Barack Obama for his unprecedented spending binge for many years before he announced his run for higher office:

President Trump said he would fix the problem of the debt after taking over the reigns of control, but he has instead adopted the profligate spending policies of his predecessors despite saying the opposite on the campaign trail.

Sen. Rand Paul’s “Penny Plan” is a golden opportunity for the GOP to finally live up to its promise as a fiscally conservative party, and it will be a chance for Trump to live up to his campaign rhetoric on federal spending.

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