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HR 3565 112th Congress House Congress Administrative law and regulatory procedures Budget deficits and national debt Commodities markets Commodity Futures Trading Commission Congressional officers and employees Financial services and investments Government employee pay, benefits, personnel management Government ethics and transparency, public corruption House of Representatives Legislative rules and procedure Members of Congress Securities Securities and Exchange Commission (SEC)

Reconnecting Congress with America Act of 2011

Introduced: December 6, 2011 See on congress.gov
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 Everywhere this bill has been 4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 17, 2012
Referred to the Subcommittee on General Farm Commodities and Risk Management.
Jan 12, 2012
Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises.
Dec 6, 2011
Referred to the Committee on House Administration, and in addition to the Committees on Oversight and Government Reform, Agriculture, Rules, and Financial Services, 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.
Dec 6, 2011
Introduced in House
 Plain-English summary Congressional Research Service

Reconnecting Congress with America Act of 2011 - Adjusts the annual rate of pay for Members of Congress for pay periods occurring in a calendar year if, for the most recent fiscal year ending before that calendar year, the federal deficit attained specified levels. Sets a Member's annual pay rate at: (1) 80% of the applicable base rate if the federal deficit was equal to or greater than 3% of the gross domestic product (GDP), (2) 90% of the applicable rate if the federal deficit was less than 3% of GDP, and (3) 100% of the applicable rate if there was no federal deficit.

Amends the Legislative Reorganization Act of 1946 to eliminate any statutory pay adjustments for Members of Congress.

Increases by 4.9% the contributions payable by a Member of Congress under the Civil Service Retirement System (CSRS) and the Federal Employees' Retirement System (FERS).

Establishes the federal contributions payable under CSRS and FERS for a Member equal to the percentage that would otherwise apply minus such 4.9% increase.

Amends the Commodity Exchange Act and the Securities Exchange Act of 1934 to direct both the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) to prohibit purchase or sale of either securities, security-based swaps, or commodities for future delivery or swap by a person in possession of material nonpublic information regarding pending or prospective legislative action if the information was obtained: (1) knowingly from a Member or congressional employee, (2) by reason of being a Member or congressional employee, or (3) from other federal employees and derived from their federal employment.

Directs both the Committee on Agriculture and the Committee on Financial Services of the House of Representatives to hold hearings on the implementation by the CFTC and the SEC of such financial transaction prohibitions.

Expresses the sense of Congress that any law enacted by Congress should apply to Members of Congress in the same manner and to the same extent as the law applies to other individuals.

What's happening now January 17, 2012

Referred to the Subcommittee on General Farm Commodities and Risk Management.

 Committees of jurisdiction 7
 Cosponsors 1
All 1 Republican 1