Bill > S45

This bill, called the "Balanced Budget Accountability Act," aims to incentivize Congress to create balanced budgets by implementing financial penalties for failing to do so. The bill defines a "balanced budget" as a budget resolution where total government outlays do not exceed total receipts and do not exceed a specific percentage of the projected gross domestic product (GDP). For fiscal years 2026 and 2027, if a chamber of Congress (House or Senate) does not adopt a balanced budget by April 16 of the preceding year, the payroll administrator will place the salaries of Members of Congress into an escrow account, effectively withholding their pay until they pass a balanced budget or until the end of the congressional session. For fiscal year 2028 and beyond, if a balanced budget is not adopted, Members of Congress will be paid only $1 annually. Additionally, the bill introduces a requirement that any legislation increasing government revenue must pass with a three-fifths supermajority vote in both chambers. The bill is motivated by concerns about the growing federal debt, which currently exceeds $36 trillion, and aims to hold Congress accountable for fiscal responsibility and encourage policies that promote economic growth.

Military Affairs and Security

https://www.congress.gov/bill/119th-congress/senate-bill/45/all-info