Implement "Penny Plan" to Reduce Government Spending

Current Status: Broken

As of

"Well, we’re cutting back, I mean whether it’s a penny plan—which is something that, as simple as it is, I’ve always sort of liked.... We’re going to be doing smart budget cuts, budget cuts that will make it just as good or better than it is right now, but for a lot less money."
- Donald Trump on Fox Business, August 2016

Variations of the “penny plan,” or the “one-cent solution” as it’s called by activist Bruce Cook, cut one cent per dollar in the federal budget over a period of six or seven years and impose a spending cap until the budget is balanced. Different programs can see greater than 1 percent cuts—or no cuts—as long as overall spending is reduced by 1 percent each year.

Such spending cuts would have been difficult to achieve given the number of programs Trump promised, but his administration did propose a number of cuts such as a "10 penny" plan in 2017 and a blanket 5% budget cut from departments in 2018. and Rand Paul put a penny plan to a vote in the Senate in 2019. None of these proposals remained intact through the budget cycles.

See also: Economy, Government