H.R. 1848, the “One Percent Spending Reduction Act”

Despite the short-term resolution of the debt ceiling issue, Congressman Mack continues to hear from people throughout the country who say “enough is enough” to Washington’s out-of-control spending habits.

That is why he introduced H.R. 1848, the “One Percent Spending Reduction Act” – also known as the “Mack Penny Plan” – which is a longer-term solution to our year-to-year deficits, which are leading to mounting national debt. 

H.R. 1848 (click here to see bill text) 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.

This bill currently has over 60 co-sponsors (click here to see list) and has a Senate companion bill (S. 1316) that was introduced by Sen. Mike Enzi (R-WY) and enjoys the support of several key Senators.

At present, H.R. 1848 has been endorsed by:

  • FreedomWorks (click here to see letter)
  • The National Taxpayers Union (click here to see letter)
  • The One Cent Solution (click here to see letter)

Congressman Mack has appeared on numerous television and radio programs discussing the bill, as well.  Click here to see clips from Fox News, Fox Business, CNN, MSNBC, and others.

For a one-pager on the bill, click here.

For articles and op-eds, click here. 

Congressman Mack will continue to fight to bring our nation’s fiscal house in order and put America on a path to greater economic freedom.

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