The Peters Plan - The Bill

United States Senate Bill Proposal
A. Freeze all federal spending at its current level.
1. No increase in the number of federal employees.
2. No increase in federal employee pay and benefits.
3. No congressional earmark spending.
4. No discretionary spending beyond the essentials.
5. No bailout spending.
6. No increase in the income tax structure.
7. No additional subsidies, eliminating those proven ineffective.
8. No increase of the National Debt Limit.
B. Reduce federal spending by a minimum of 10% per year until a balanced budget is achieved:
1. Congress will enthusiastically encourage and require all departments and sub-departments to reduce their respective budgets.
2. Congress will enthusiastically encourage all department heads and sub-department heads to report ways in which the government can reduce spending. Be it elimination of programs that have outlived there usefulness or have become redundant or the elimination of entire departments or sub-departments that are no longer truly necessary. Streamlining services to maximize efficiencies and selling unused government assets and eliminating unjustifiable subsidies.
C. Achievement Based Incentives:
1. Failure to achieve the minimum of 10% in spending reductions shall result in a federal employee pay reduction equal to the difference in the shortfall. (Example: Congress only achieves a 2% reduction in spending shall result in an 8% reduction in all federal employee pay.) Limited exceptions for active duty military.
2. A reward program will be established that shall compensate federal employees and others who submit clear, practical cost saving reduction proposals that are accepted and implemented by a special committee on budget reduction.
3. Federal law prohibits retaliation of any kind against federal employees or others who submit cost saving methods and proposals for consideration.
D. Once a balanced budget is achieved, the federal government is forbidden to spend in excess of revenue, based on the prior year actual revenue. Specifically targeted exceptions for emergency disaster and time of war.
E. Congress shall apply all unspent tarp funds, repayments and surplus to the reduction of the National Debt.
Respectfully submitted by Tom Peters -
Average American - for US Senate
         Ashland, NH                 603- 968-7800