Balanced Budget Accountability Act

To reduce a portion of the annual pay of Members of Congress for the failure to adopt a concurrent resolution on the budget which does not provide for a balanced budget, and for other purposes. 1. Short title; findings (a) Short title This Act may be cited as the Balanced Budget Accountability Act (b) Findings Congress finds the following: (1) The Federal debt exceeds $16 trillion, continues to grow rapidly, and is larger than the size of the United States economy. (2) The Federal budget has shown an annual deficit in 45 of the last 50 years. (3) Deficits and the Federal debt threaten to shatter confidence in the Nation’s economy, suppress job creation and economic growth, and leave future generations of Americans with a lower standard of living and fewer opportunities. (4) It is the duty of Members of Congress to develop and implement policies, including balancing the Federal budget, that encourage robust job creation and economic growth in the United States. (5) Members of Congress should be held accountable for failing to pass annual budgets that result in a balanced budget. 2. Requiring adoption of budget resolution providing for balanced budgets (a) Adoption of budget resolution Each House of Congress shall adopt a concurrent resolution on the budget for a fiscal year which provides that, for each fiscal year for which a budget is provided under the resolution (beginning not later than with the budget for fiscal year 2023), total outlays do not exceed total receipts. (b) Certification by Congressional Budget Office Upon the adoption by a House of Congress of a concurrent resolution on the budget for a fiscal year, the Director of the Congressional Budget Office shall transmit to the Speaker of the House of Representatives or the President pro Tempore of the Senate (as the case may be) a certification as to whether or not that House of Congress has met the requirements of subsection (a) with respect to the resolution. (c) Effective date This section shall apply with respect to the concurrent resolution on the budget for fiscal year 2015 and each succeeding fiscal year. 3. Effect of failure to adopt resolution (a) Rule for fiscal year 2015 (1) Holding salaries in escrow If the Director of the Congressional Budget Office (hereafter referred to as the Director (2) Period described With respect to a House of Congress, the period described in this paragraph is the period which begins on April 16, 2014, and ends on the earlier of— (A) the day on which the Director certifies that the House of Congress has met the requirements of section 2(a) with respect to fiscal year 2015; or (B) the last day of the One Hundred Thirteenth Congress. (3) Withholding and remittance of amounts from payments held in escrow The payroll administrator shall provide for the same withholding and remittance with respect to a payment deposited in an escrow account under paragraph (1) that would apply to the payment if the payment were not subject to paragraph (1). (4) Release of amounts at end of the congress In order to ensure that this subsection is carried out in a manner that shall not vary the compensation of Senators or Representatives in violation of the twenty-seventh article of amendment to the Constitution of the United States, the payroll administrator of a House of Congress shall release for payments to Members of that House of Congress any amounts remaining in any escrow account under this section on the last day of the One Hundred Thirteenth Congress. (5) Role of secretary of the treasury The Secretary of the Treasury shall provide the payroll administrators of the Houses of Congress with such assistance as may be necessary to enable the payroll administrators to carry out this subsection. (6) Payroll administrator defined In this subsection, the payroll administrator (A) in the case of the House of Representatives, the Chief Administrative Officer of the House of Representatives, or an employee of the Office of the Chief Administrative Officer who is designated by the Chief Administrative Officer to carry out this section; and (B) in the case of the Senate, the Secretary of the Senate, or an employee of the Office of the Secretary of the Senate who is designated by the Secretary to carry out this section. (b) Rule for fiscal year 2016 and subsequent fiscal years If the Director of the Congressional Budget Office does not certify that a House of Congress has met the requirements of section 2(a) with respect to a fiscal year prior to the April 16 which immediately precedes the first day of the fiscal year, during pay periods which occur in the same calendar year after that date each Member of that House shall be paid at an annual rate of pay equal to $1. (c) Definition In this section, the term Member

Summary: Balanced Budget Accountability Act - Requires each house of Congress to adopt a concurrent budget resolution for a fiscal year which provides that, for each fiscal year for which a budget is provided under the resolution (beginning by FY2023), total outlays do not exceed total receipts. Requires the Director of the Congressional Budget Office (CBO), upon the adoption by a chamber of a concurrent budget resolution for a fiscal year, to transmit to the Speaker of the House of Representatives or the President pro Tempore of the Senate (as the case may be) a certification as to whether or not that chamber has met the requirements of this Act with respect to the resolution. Requires the appropriate payroll administrator of each chamber to deposit in an escrow account all mandatory payments for compensation of Members of Congress serving in that chamber if CBO does not certify that it has adopted a concurrent budget resolution for FY2015 before April 16, 2014. Requires deposits to begin on such date and to be released to appropriate Members on the earlier of: the day on which CBO certifies that the house of Congress has met the requirements of this Act with respect to FY2015, or the last day of the 113th Congress.