H.R.2824 - Balanced Budget Incentive Act105th Congress (1997-1998)
|Sponsor:||Rep. Salmon, Matt [R-AZ-1] (Introduced 11/05/1997)|
|Committees:||House - Government Reform; House Oversight|
|Latest Action:||11/12/1997 Referred to the Subcommittee on Civil Service. (All Actions)|
This bill has the status Introduced
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Summary: H.R.2824 — 105th Congress (1997-1998)All Bill Information (Except Text)
Introduced in House (11/05/1997)
Balanced Budget Incentive Act - Amends the Legislative Reorganization Act of 1946 to prohibit rates of pay for Members of Congress from being increased, as a result of a cost-of-living adjustment, by a percentage greater than the maximum percentage allowable for a year. Provides that the maximum percentage allowable for a year is the percentage by which benefits under title II (Old-Age, Survivors and Disability Insurance) of the Social Security Act are increased (if at all) effective December 1 of the preceding year pursuant to a cost-of-living or general benefit increase.
Bars annual pay increases for Members of Congress for a calendar year if the Director of the Congressional Budget Office determines that there was a deficit in the U.S. Government budget for the last fiscal year ending before the start of such calendar year.