Galloway introduced the plan on 28 September 1774, eleven days after the Congress endorsed the Suffolk Resolves of Massachusetts. Galloway's plan was a streamlined version of Benjamin Franklin's Albany Plan of Union from the 1754 Albany Congress. Like Franklin's plan, Galloway's called for a royally appointed President-General acting as executive to a Grand Council chosen by the colonial legislative assemblies. Galloway's plan did not enumerate the specific powers of the Grand Council as the Albany Plan did. However, Galloway did explicitly state that "the said President-General and the Grand Council, be an inferior and distinct branch of the British legislature, united and incorporated with it". That is, the American government would act as a third house of Parliament, with equal power to draft legislation, and that any act that concerned North America would require the assent of all three bodies to be valid.
The Continental Congress debated the Galloway Plan on the 28th, but chose not to vote on it. Instead, the Congress voted to table the Galloway Plan pending future consideration. Galloway would later claim that the plan had been defeated by a single vote (a claim that Sobel repeats), and this claim would later be cited by members of the British government as proof that the colonists had no interest in reconciliation with Great Britain.
The Galloway Plan would eventually serve as the inspiration for the Britannic Design of 1781. Joseph Galloway's great-great-great grandson Owen Galloway would introduce his own Galloway Plan in 1922 in conscious imitation of his ancestor.