U.S. Congress - H.R.4762 Congressional Pay Cut for Debt Reduction Act
H.R.4762 - Congressional Pay Cut for Debt Reduction Act
To reduce the pay of Members of Congress and dedicate the annual savings to a reduction of the national debt. view all titles (2)
All Bill Titles
- Short: Congressional Pay Cut for Debt Reduction Act as introduced.
- Official: To reduce the pay of Members of Congress and dedicate the annual savings to a reduction of the national debt. as introduced.
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Official Summary
3/4/2010--Introduced.Congressional Pay Cut for Debt Reduction Act - Amends the Legislative Reorganization Act of 1946 to: (1) reduce the annual salary of Members of Congress to 90% of the mandatory rate determined for such positions; and (2) eliminate automatic pay adjustments for MembersOfficial Summary
3/4/2010--Introduced.Congressional Pay Cut for Debt Reduction Act - Amends the Legislative Reorganization Act of 1946 to:(1) reduce the annual salary of Members of Congress to 90% of the mandatory rate determined for such positions; and
(2) eliminate automatic pay adjustments for Members of Congress. Requires the Secretary of the Treasury, as soon as practicable after the beginning of each fiscal year, to:
(1) calculate the reduction in outlays expected to occur during the fiscal year as a result of the application of the amendments made by this Act; and
(2) transfer an equivalent amount to a specified account in the Treasury to reduce the public debt.
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