Bill > S6

This bill, the Balanced Budget Accountability Act, aims to hold members of Congress accountable for failing to pass annual budgets that result in a balanced federal budget. The key provisions of the bill are: 1. The Director of the Office of Management and Budget (OMB) is required to determine whether a concurrent resolution on the budget adopted by Congress is a "balanced budget" - where total outlays do not exceed total receipts and are not more than a certain percentage of the projected gross domestic product. 2. If the OMB Director does not certify that a house of Congress has adopted a balanced budget for fiscal years 2024 and 2025, the payroll administrator of that house must deposit the compensation of its members in an escrow account until a balanced budget is adopted or the end of the 118th Congress. 3. For fiscal year 2026 and beyond, if the OMB Director does not certify a balanced budget, each member of the non-compliant house will be paid at an annual rate of only $1. 4. The bill also establishes a supermajority requirement of three-fifths of members for any bill, resolution, or amendment that increases federal revenue.