Short title

This Act may be cited as the

The No Pay Raise for Congress Until the Budget is Balanced Act

Findings

Congress makes the following findings: (1)Article I, section 9, of the United States Constitution makes Congress responsible for all money drawn from the United States Treasury. (2)The United States national debt now exceeds $12,600,000,000,000. (3)The Federal budget deficit is projected to amount to $1,300,000,000,000 for fiscal year 2010 and the annual deficits will average nearly $1,000,000,000,000 for the next decade, according to the Congressional Budget Office. (4)Each American’s share of the United States national debt amounts to more than $41,000. (5)The United States national debt increases more than $4,000,000,000 each day. (6)Foreign investors held 48 percent of the United States’ outstanding public debt at the end of 2009, including $776,400,000,000 the United States owes to Communist China. (7)For the first time ever, the Federal budget deficit has been singled out as the most important issue facing the future of the country, according to a Gallup poll conducted between March 4 and March 7, 2010. (8)Eighty-three percent of Americans say the size of the Federal budget deficit is due to the unwillingness of politicians to cut Government spending and just 11 percent think the Government spends taxpayers’ money wisely, according to a national survey conducted between February 2 and February 3, 2010, by Rasmussen Reports. (9)More than twice as many United States adults (58 percent) say that debt owed to China is a more serious threat to the long-term security and well-being of the United States than is terrorism from radical Islamic terrorists (27 percent), according to a Zogby Interactive survey conducted between February 17 and February 19, 2010. (10)For the reasons specified in paragraphs (1) through (9)— (A)Congress should make balancing the Federal budget an urgent priority to protect the national security, financial stability, and standard of living of the United States; (B)because Congress has long refused to make the tough decisions necessary to cut wasteful spending, reducing the national debt limit is the only sure way to force Congress to live within its means; and (C)the pay for members of Congress, who are constitutionally responsible for the money drawn from the United States Treasury and the debt that results from excessive spending, should not be increased until Congress has balanced the Federal budget.

Restrictions on pay of Members of Congress

(a)

Restriction on COLA adjustments

Notwithstanding any other provision of law, no adjustment shall be made under section 601(a) of the Legislative Reorganization Act of 1946 (2 U.S.C. 31) (relating to cost of living adjustments for Members of Congress) during fiscal year 2011 or any succeeding fiscal year, until the fiscal year following the first fiscal year that the annual Federal budget deficit is $0 as determined in the report submitted under subsection (b). (b)

Determinations and reports

(1)

In general

Not later than 30 days after the end of each fiscal year, the Secretary of the Treasury shall— (A)make a determination of whether or not the annual Federal budget deficit was $0 for that fiscal year; and (B)if the determination is that the annual Federal budget deficit was $0 for that fiscal year, submit a report to Congress of that determination. (2)

Restriction of COLA adjustments

Not later than the end of each calendar year, the Secretary of the Treasury shall submit a report to the Secretary of the Senate and the Chief Administrative Officer of the House of Representatives on— (A)any determination made under paragraph (1); and (B)whether or not the restriction under subsection (a) shall apply to the succeeding fiscal year.

Reduction of the statutory limit on the public debt

Notwithstanding section 3101(b) of title 31, United States Code, or any other provision of law, the dollar amount of the statutory limit on the public debt under section 3101(b) of that title for the applicable fiscal year shall be the following: (1)Fiscal year 2011, $13,900,000,000,000. (2)Fiscal year 2012, $13,700,000,000,000. (3)Fiscal year 2013, $13,500,000,000,000. (4)Fiscal year 2014, $12,300,000,000,000. (5)Fiscal year 2015 and each fiscal year thereafter, $12,100,000,000,000.