Jones Cosponsors Bill to Cut Wasteful Spending, Balance Budget | Eastern North Carolina Now

News Release:

    WASHINGTON, DC     This week, Congressman Walter B. Jones, a longtime deficit hawk, continued efforts to reign in our nation's runaway debt, and cosponsored H.R. 5572, the One Percent Spending Reduction Act, also known as the "Penny Plan." This legislation, introduced by Congressman Mark Sanford (SC-1), would work to balance the Federal budget by reducing overall government spending, excluding interest payments on the debt, by 1% each year from 2019 through 2024. In essence, H.R. 5572 would cut one penny from every dollar spent by the federal government.

    "As a result of big spenders in Washington, the national debt has quadrupled from $5.5 trillion in 2000 to over $21 trillion today - that is larger than the size of our economy," said Congressman Jones. "Those big spenders continue to bankrupt our future generations and blindly guide us over the fiscal cliff. That's got to stop. Today, my colleagues and I are proud to support the Penny Plan and begin painting a brighter future for our children and grandchildren."

    Fellow original cosponsors include: Representatives Scott DesJarlais (TN-4), Matt Gaetz (FL-1), Louie Gohmert (TX-1), Paul Gosar (AZ-4), Thomas Massie (KY-4), Mark Meadows (NC-11), and Gary Palmer (AL-6).

    For additional information, please contact Allison Tucker in Congressman Jones' office at (202) 225-3415 or allison.tucker@mail.house.gov.