Senate Blocks Kentucky GOP Senator Rand Paul’s Resolution to Balance Federal Budget Within Five Years

U.S. Senate lawmakers on Wednesday voted against proposed legislation introduced by Senator Rand Paul (R-Ky.) that he said would have balanced the federal budget within five years.

Lawmakers took to the Senate floor to vote on Paul’s “Six Penny Plan” federal budget plan but ultimately rejected the proposal with a vote of 67-to-29.

In a statement following the vote, the Republican lawmaker, who has been critical of excessive government spending, pointed to increasing inflation across the United States which is currently at 40-year-highs.

“Washington’s addiction to spending is hurting our economy and depleting our currency. Inflation is stealing every American’s purchasing power and financial security. And yet, no Democrat or Republican has produced a federal budget; my Six Penny Plan is the only one,” said Paul.

“My plan provides a commonsense solution for fiscal sanity. It puts our nation on track to balance the federal budget in the next five years, and it solves this inflationary and spending crisis that Congress created.”

Under Paul’s plan, which the senator describes as “reasonable and obtainable”, federal spending would be reduced by six cents on the dollar and bought down to pre-pandemic levels…. (Excerpt from The Epoch Times)