Balanced Budget Incentive Act

Summary

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.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 5 November 1997

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• Introduced in House (PDF)

  Introduced in House · EN · 5 November 1997

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• Introduced in House

  summary · EN · 5 November 1997

  Open at official source

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