PAID for Progress Act

To provide for an 8.7 percent reduction in the annual rate of basic pay for certain employees, and for other purposes. 1. Short title This Act may be cited as the Promoting Accountability in Decisions for Progress Act PAID for Progress Act 2. Initial pay decrease (a) In general Notwithstanding any other provision of law, for any covered employee occupying a position within the Federal Government or a covered enterprise on the date of enactment of this Act that has an annual rate of basic pay greater than $100,000, such rate of basic pay shall be reduced by 8.7 percent. (b) Effective dates (1) Federal employees In the case of a Federal employee, subsection (a) shall be effective with respect to the first pay period beginning after the date of enactment of this Act. (2) Members of Congress; the President In the case of a Member of Congress or the President, subsection (a) shall apply with respect to the first pay period beginning on or after the commencement date of the first term for which such Member or the President is elected that begins after the date of enactment of this Act. 3. Real median household income adjustments (a) Periodic pay adjustments Notwithstanding any other provision of law, for any covered employee with an annual rate of basic pay greater than $100,000 on the date of application in subsection (c), such rate of basic pay shall be adjusted by the rate of the percent change in the real median household income, pursuant to the calculation in subsection (b). (b) Calculation of adjustment (1) Federal employees In the case of a Federal employee, the adjustment in subsection (a) shall be a percent equal to the percent difference between the real median household income in the most recent publication such income and the real median household income in the previous publication. (2) Member of Congress; the President In the case of a Member of Congress or the President, the adjustment in subsection (a) shall be a percent equal to the percent difference between the real median household income in the most recent publication such income and the real median household income in the first publication after the date of enactment of this Act. (c) Date of application (1) Federal employees In the case of a Federal employee, the adjustment in subsection (a) shall be periodically applied beginning with the first pay period beginning after the date of each annual publication of the real median household income. (2) Member of Congress; the President In the case of a Member of Congress or the President, the adjustment in subsection (a) shall be applied with respect to the first pay period beginning on or after the commencement date of each term after such date of publication for which such Member or the President is elected. 4. Definitions In this Act: (1) Covered employee The term covered employee (2) Covered enterprise The term covered enterprise 12 U.S.C. 1716 et seq. 12 U.S.C. 1451 et seq. (3) Federal employee The term Federal employee employee (4) Member of Congress The term Member of Congress (5) Real median household income The term real median household income

Summary: Promoting Accountability in Decisions for Progress Act or the PAID for Progress Act Reduces by 8.7% the rate of basic pay for the President, Members of Congress, and any federal employee occupying a position within the federal government or a covered enterprise (defined as the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, or any federally-chartered affiliate thereof) for which the annual rate of basic pay exceeds $100,000. Requires such basic pay rates to be adjusted by the rate of the percent change in real median household income of the United States as published by the Bureau of the Census.