Our Message to Congress: Solve the Debt Crisis, Save America

Play video >Screenshot from videoRep. Connie Mack introduces
1% spending reduction bill

Our voices are being heard. Legislation that embodies the One Cent Solution, the One Percent Spending Reduction Act, also called the “Penny Plan,” has been introduced in the House and Senate. Momentum is quickly building—71 House Members, 12 Senators, 136 economists, and two large national grassroots organizations have signed on in support of this plan. Be part of the solution! Sign our petition and ensure Congress adopts this important legislation.
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Latest News

Republicans revive ‘Penny Plan’ as sequester alternative to balance budget

August 9, 2013rturner

As Congress faces a fast-approaching deadline on passing a federal spending bill, Republican lawmakers are reviving a Tea Party-backed plan with a catchy title that they claim could balance the budget. The so-called “Penny Plan” would, according to its sponsors, balance the federal budget in two years by using just a 1 percent reduction in [...]

One Cent Solution/Penny Plan Reintroduced in the Both the House and the Senate

April 10, 2013One Cent Solution

 Media Contacts: Rachel Turner rturner@onecentsolution.org 1.866.805.4622 FOR IMMEDIATE RELEASE Washington, D.C. – March 14, 2013 — Congressman Austin Scott (R-GA) and Senator Michael Enzi (R-WY), along with 10 co-sponsors, have re-introduced the One Cent Solution/Penny Plan in both houses of Congress. The One Percent Spending Reduction Act of 2013 (H.R. 1202 and S. 547), also [...]

Is One Percent Really Too Much To Ask?

June 11, 2012One Cent Solution

    June 6, 2012 TaxBytes 9.16 Sixty-eight years ago today, the people of the United States came together as one to make a stand against tyranny and to do what everyone knew needed to be done. It was called D-Day, the Invasion of Normandy. More than 5,000 ships and 13,000 aircraft supported over 100,000 American [...]

Senate Fiddles While Our Fiscal House Burns

May 17, 2012One Cent Solution

The same week the Senate – for the third year in a row – refuses to take up and adopt a budget resolution, Moody’s Rating Service issued a report that repeats its negative outlook for US debt. The irony couldn’t be more tangible. Faced with a fiscal crisis of historic proportions, as evidenced by the [...]

“This is the sort of proposal that Ronald Reagan might well have championed!”

May 10, 2012One Cent Solution

“This is the sort of proposal that Ronald Reagan might well have championed!” Jim Miller, Former Budget Director for President Ronald Reagan On April 26 I attended an exciting meeting at the Kennedy Caucus Room of the Senate Russell Building in Washington D.C.  Our “Penny Plan” sponsors in the House and Senate, Congressman Connie Mack [...]

Two Leading Economists Support One Cent Solution/Penny Plan in Washington Times Op-Ed

April 30, 2012One Cent Solution

Finally, Penny Plan allies Jim Carter, former deputy secretary of the Treasury under President Bush and Jason Fichtner, former acting deputy commissioner of Social Security and fellow at George Mason’ University’s Mercatus Center penned an op-ed in the Washington Times on Monday highlighting the effectiveness of the Penny Plan.  According to the authors: Any viable [...]

Happy Tax Week

April 18, 2012One Cent Solution

It’s Tax Week and both houses of Congress are focused tax issues — the House is scheduled to vote on a plan to cut them for small businesses, while the Senate will vote on a plan to raise them for millionaires. What’s lost in both these debates is the notion of what’s the appropriate role [...]

Penny Plan and the Ryan Budget

March 29, 2012One Cent Solution

The One Cent Solution team is a big fan of Congressman Paul Ryan and his efforts to address our fiscal crisis.  He’s been a leader on these issues like nobody else, and he deserves our praise.   Moreover, his latest budget has lots in common with the Penny Plan.  Like the Penny Plan, it keeps [...]

A Message from former Reagan Budget Director Jim Miller

March 21, 2012One Cent Solution

Last week, One Cent Solution “Penny Plan” supporter James C. Miller, III sent out a letter of support for the Penny Plan to his fellow economists.  Jim Miller was Ronald Reagan’s budget director in the mid-1980s, and been a great champion of fiscal responsibility his whole career.   Here’s what he had to say about [...]

Penny Plan Support Growing

February 29, 2012One Cent Solution

Earlier this month, two new Senators added their names as cosponsors of the One Cent Solution “Penny Plan” legislation introduced by Senator Mike Enzi (R-WY).  Why did they join the effort? Perhaps it was the President’s new budget, which wholly ignores our growing fiscal crisis.  (Debt crisis?  What debt crisis?)  Or perhaps it was Majority [...]