Members of Congress Pension Opt Out Clarification Act This bill allows future Members of the House of Representatives to opt out of the Federal Employees Retirement System, an option currently available to Members of the House who began serving before September 30, 2003, and all Senators. In addition, it permits Members of Congress who opt out to continue to participate in the Thrift Savings Plan.
End Pensions in Congress Act or the EPIC Act This bill excludes future Members of Congress from the Federal Employees Retirement System (FERS) and requires Members currently enrolled in FERS or the Civil Service Retirement System to opt in to continue their enrollment.
Banning Lobbying and Safeguarding Trust Act or the BLAST Act This bill revises the post-employment lobbying ban on former Members and elected officers of Congress. Specifically, it imposes a permanent ban on lobbying contacts by a former Senator (currently, a two-year ban), a former Member of the House of Representatives (currently, a one-year ban), or a former elected officer of the House or Senate (currently, a one-year ban).
Full Faith and Credit Act This bill requires the Department of the Treasury to prioritize certain obligations if the federal debt limit is reached and provides for a limited increase in the debt limit to fund these priorities. If the federal government reaches the debt limit, the following obligations must be given equal priority over all other federal obligations: the principal and interest on the debt held by the public; Social Security benefits; pay and allowances for members of the Armed Forces on active duty and members of the U.S. Coast Guard; compensation, pensions, and payments for medical services provided by the Department of Veterans Affairs, and the Medicare programs. If the debt limit has been reached and incoming revenue will be insufficient to pay the priority obligations over an upcoming two-week period, the bill requires (1) Treasury to notify Congress of the expected revenue shortfall for the two-week period, and (2) the debt limit to be increased by the amount of the expected shortfall. If the incoming revenue exceeds the expected shortfall, the excess revenue must be held in reserve and applied to the following two-week period.