Us Congress Senate Bill SB6

Us Congress 2023-2024 Regular Session

• Introduced: 1/23/23
• Refer: 1/23/23

Caption

Balanced Budget Accountability Act This bill requires the Office of Management and Budget (OMB), upon adoption by a chamber of Congress of a concurrent budget resolution for a fiscal year, to certify to the Speaker of the House of Representatives or the President pro tempore of the Senate whether that chamber has adopted a balanced budget. Balanced budget means a concurrent budget resolution providing that for FY2033 and each succeeding fiscal year to which the resolution applies total outlays do not exceed total receipts and are not more than 18% of the projected domestic product for such fiscal year. The bill requires the salary of Members of Congress to be held in escrow if OMB determines a chamber has not adopted a balanced budget for FY2024 before April 16, 2023, and for FY2025 before April 16, 2024. The bill also provides for the release of these funds to the Members. Beginning in FY2026, if OMB does not certify that a chamber has adopted a balanced budget before April 16 of the prior fiscal year, each Member of that chamber shall be paid at the rate of $1 annually for pay periods after that date in the same calendar year. The bill also requires that legislation in either chamber to increase revenue be agreed upon by an affirmative vote of three-fifths of the Members of that chamber.

Impact

The act would significantly shift how budgets are approached in Congress, as it ties the financial well-being of its members to the responsibility of passing a balanced budget. Specifically, it introduces a painful consequence for failure to act, which may encourage swifter legislative processes regarding fiscal policy. The structure of the bill is designed to create a sense of urgency for achieving a balanced budget, compelling lawmakers to prioritize budget resolutions over other legislative business to avoid personal financial penalties.

Summary

SB6, known as the Balanced Budget Accountability Act, aims to enforce fiscal discipline among members of Congress by imposing salary reductions if they fail to adopt a balanced federal budget. The bill requires the Office of Management and Budget (OMB) to certify whether a chamber of Congress has passed a budget resolution that meets the standards of a balanced budget, defined as one where total outlays do not exceed total receipts and are capped at 18% of the projected domestic product for the fiscal year. If a chamber does not adopt such a budget by certain deadlines, members' salaries would be temporarily held in escrow or reduced to $1 annually in subsequent years.

Contention

Some lawmakers may view the provisions of SB6 as excessively punitive, questioning the fairness of linking congressional pay to budgetary decisions. Critics may argue that this approach could lead to hasty or poor fiscal policies, where the pressure to achieve a balanced budget blurs the lines between responsible governance and the potential for manipulating figures to meet technical definitions. As such, the bill has sparked discussions regarding the balance between accountability and the flexibility required for effective governance.