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HR 3736 108th Congress House Congress Budget deficits Congressional salaries Cost of living adjustments Economics and Public Finance Federal budgets Labor and Employment

Fiscal Responsibility Act of 2004

Introduced: January 28, 2004 See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 30, 2004
Referred to the Subcommittee on Civil Service and Agency Organization.
Jan 28, 2004
Introduced in House
Jan 28, 2004
Referred to the Committee on House Administration, and in addition to the Committee on Government Reform, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
 Plain-English summary Congressional Research Service

Fiscal Responsibility Act of 2004 - Provides that, if there is a deficit in a fiscal year, then: (1) any pay adjustment (including a cost of living adjustment) for Members of Congress scheduled to take effect in the succeeding calendar year shall be null and void; and (2) rates of pay for Members shall be reduced by a specified percentage, but not below zero.

Specifies the mandatory pay rate reduction at: (1) five percent, for the first year; or (2) ten percent, for any consecutive subsequent year that expenditures exceed revenues.

Specifies conditions for restoration of the original pay rate, together with otherwise scheduled adjustments.

Vests authority in the Director of the Congressional Budget Office to make determinations of whether or not a deficit exists in any fiscal year. States that, in making any such determination, the Director shall exclude any budget outlays which directly relate to a military conflict that lasts over 30 days or that is in direct response to a terrorist attack on the United States.

What's happening now January 30, 2004

Referred to the Subcommittee on Civil Service and Agency Organization.

 Committees of jurisdiction 3
 Cosponsors 1
All 1 Republican 1