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….