Bill Information
Key Votes on Array
Roll Call
About The Keyvote

Introduced by Sen. Rand Paul (R-Ky.), the Pennies Plan Balanced Budget would cut two cents for every dollar of on-budget spending beginning in FY 2020. This would balance the federal budget by FY 2024, without making any changes to Social Security. Sen. Paul’s Pennies Plan Balanced Budget would address the concerning growth of federal spending by cutting two pennies from every dollar of on-budget spending. This would reduce on-budget spending by $183.1 billion in FY 2020 and $11.3 trillion in the unified budget. Although federal spending will be reduced under this budget proposal, federal spending will still rise by 18.2 percent over the budget window. The spending levels under the budget resolution would be enforceable under a point of order requiring five-eighths of members present and voting to waive.

The Pennies Plan Balanced Budget includes reconciliation instructions to the Senate Finance Committee to extend the individual income tax reforms, including the pass-through changes, under the Tax Cuts and Jobs Act of 2017. The budget resolution also includes a reserve fund for the expansion of health savings accounts. This is a crucial health insurance reform that will put people in charge of their healthcare dollars and lower overall healthcare costs.