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Analysis: Trump's Penny Plan Could Save $630 Billion

Image: Analysis: Trump's Penny Plan Could Save $630 Billion

Donald Trump (Photo by Drew Angerer/Getty Images)

By    |   Monday, 12 Dec 2016 05:57 PM

President-elect Donald Trump's penny plan may save more than half a trillion dollars over 10 years, according to a new analysis.

The Daily Signal reports that Trump's plan to boost the economy and decrease spending could amount to $630 billion saved in government spending over a decade. The cuts do not apply to defense spending and entitlements.

The plan, which Trump talked about during his campaign, involves cutting back government agencies' budgets by 1 cent for every dollar spent. The Daily Signal gives the example of an agency with a $100 billion annual budget. That figure would be trimmed down to $99 billion the next year and then to around $98.01 billion the year after that.

Marc Goldwein of the Committee for a Responsible Federal Budget told The Daily Signal, "Trump's version of the penny plan is actually more targeted and thoughtful because it isolates this to spending that is already being capped."

A Washington Post analysis in September showed Trump's penny plan would slash spending by about 23 percent by 2026.

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President-elect Donald Trump's penny plan may save more than half a trillion dollars over 10 years, according to a new analysis.
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Monday, 12 Dec 2016 05:57 PM
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