The Hill News

Texas Rep. Ron Paul (R) plans to outline in a speech Monday afternoon in Nevada a budget proposal that would shed $1 trillion from the federal budget, eliminate five Cabinet-level departments and cut salaries to government employees.

“Ron Paul’s plan is the only one that seriously addresses the economic and budgetary problems our nation faces. It cuts $1 trillion in one year, and slashes regulations and taxes so our economy can grow and create jobs,” Jesse Benton, Paul's campaign chairman, said in a statement.

Paul's cuts include completely eliminating the departments of Energy, Housing and Urban Development, Commerce, Interior and Education, along with agencies like the Transportation Security Administration. Paul's plan also would get rid of corporate subsidies and foreign aid, along with immediately withdrawing troops from oversees.

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