This is an across-the-board attempt to control government spending from former Florida Congressman Connie Mack. Mack proposes cutting 1% from all government programs, if congress can’t make the cuts themselves. From his website:
“The Mack Penny Plan would balance the federal budget in eight years by cutting one penny out of every federal dollar spent for six years and capping spending at 18% of GDP beginning in the seventh year. If Congress fails to make the necessary cuts, the plan triggers automatic, across-the-board cuts to meet the yearly caps.
All told, The Mack Penny Plan would save taxpayers $7.5 trillion over the next decade, and ensure our children inherit America’s promise of freedom, security and prosperity.”
Remember that the federal government uses baseline budgeting, where all department budgets have automatic annual increases, and this plan is one way to deal with that.
FoxNews’ Sean Hannity is a big proponent of the Mack Penny Plan.