Bill Sponsor
Senate Bill 48
117th Congress(2021-2022)
Balanced Budget Accountability Act
Introduced
Introduced
Introduced in Senate on Jan 26, 2021
Overview
Text
Introduced
Jan 26, 2021
Latest Action
Jan 26, 2021
Origin Chamber
Senate
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
48
Congress
117
Policy Area
Congress
Congress
Primary focus of measure is Members of Congress; general congressional oversight; congressional agencies, committees, operations; legislative procedures; U.S. Capitol. Measures concerning oversight and investigation of specific matters may fall under the issue-specific relevant policy area.
Sponsorship by Party
Republican
Montana
Senate Votes (0)
House Votes (0)
No Senate votes have been held for this bill.
Summary

Balanced Budget Accountability Act

This bill requires the Office of Management and Budget (OMB), upon adoption by a chamber of Congress of a concurrent budget resolution for a fiscal year, to certify to the Speaker of the House of Representatives or the President pro tempore of the Senate whether that chamber has adopted a balanced budget.

Balanced budget means a concurrent budget resolution providing that for FY2031 and each succeeding fiscal year to which the resolution applies total outlays do not exceed total receipts and are not more than 18% of the projected domestic product for such fiscal year.

The bill requires the salary of Members of Congress to be held in escrow if OMB determines a chamber has not adopted a balanced budget for FY2022 before April 16, 2021, and for FY2023 before April 16, 2022. The bill also provides for the release of these funds to the Members.

Beginning in FY2024, if OMB does not certify that a chamber has adopted a balanced budget before April 16 of the prior fiscal year, each Member of that chamber shall be paid at the rate of $1 annually for pay periods after that date in the same calendar year.

The bill also requires that legislation in either chamber to increase revenue be agreed upon by an affirmative vote of three-fifths of the Members of that chamber.

Text (1)
January 26, 2021
Actions (2)
01/26/2021
Read twice and referred to the Committee on Homeland Security and Governmental Affairs.
01/26/2021
Introduced in Senate
Public Record
Record Updated
Jan 11, 2023 1:47:29 PM