Reconnecting Congress with America Act of 2011

Bill: 112-hr-3565
Sponsor: Rep. Flores, Bill [R-TX-17]
Introduced: 2011-12-06 in the House
Policy area: Congress
Subjects: Administrative law and regulatory procedures
Budget deficits and national debt
Commodities markets
Commodity Futures Trading Commission
Congressional officers and employees
Financial services and investments
Government employee pay, benefits, personnel management
Government ethics and transparency, public corruption
House of Representatives
Legislative rules and procedure
Members of Congress
Securities
Securities and Exchange Commission (SEC)

Summary:
action_date: 2011-12-06
text: 
Reconnecting Congress with America Act of 2011 - Adjusts the annual rate of pay for Members of Congress for pay periods occurring in a calendar year if, for the most recent fiscal year ending before that calendar year, the federal deficit attained specified levels. Sets a Member's annual pay rate at: (1) 80% of the applicable base rate if the federal deficit was equal to or greater than 3% of the gross domestic product (GDP), (2) 90% of the applicable rate if the federal deficit was less than 3% of GDP, and (3) 100% of the applicable rate if there was no federal deficit.
 
Amends the Legislative Reorganization Act of 1946 to eliminate any statutory pay adjustments for Members of Congress.
 
Increases by 4.9% the contributions payable by a Member of Congress under the Civil Service Retirement System (CSRS) and the Federal Employees' Retirement System (FERS).
 
Establishes the federal contributions payable under CSRS and FERS for a Member equal to the percentage that would otherwise apply minus such 4.9% increase.
 
Amends the Commodity Exchange Act and the Securities Exchange Act of 1934 to direct both the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) to prohibit purchase or sale of either securities, security-based swaps, or commodities for future delivery or swap by a person in possession of material nonpublic information regarding pending or prospective legislative action if the information was obtained: (1) knowingly from a Member or congressional employee, (2) by reason of being a Member or congressional employee, or (3) from other federal employees and derived from their federal employment.
 
Directs both the Committee on Agriculture and the Committee on Financial Services of the House of Representatives to hold hearings on the implementation by the CFTC and the SEC of such financial transaction prohibitions. 
Expresses the sense of Congress that any law enacted by Congress should apply to Members of Congress in the same manner and to the same extent as the law applies to other individuals.

Legislative actions:
action_date: 2012-01-17
text: Referred to the Subcommittee on General Farm Commodities and Risk Management.
action_date: 2012-01-12
text: Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises.
action_date: 2011-12-06
text: Referred to the Committee on House Administration, and in addition to the Committees on Oversight and Government Reform, Agriculture, Rules, and Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2011-12-06
text: Referred to the Committee on House Administration, and in addition to the Committees on Oversight and Government Reform, Agriculture, Rules, and Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2011-12-06
text: Referred to the Committee on House Administration, and in addition to the Committees on Oversight and Government Reform, Agriculture, Rules, and Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2011-12-06
text: Referred to the Committee on House Administration, and in addition to the Committees on Oversight and Government Reform, Agriculture, Rules, and Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2011-12-06
text: Referred to the Committee on House Administration, and in addition to the Committees on Oversight and Government Reform, Agriculture, Rules, and Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2011-12-06
text: Introduced in House
action_date: 2011-12-06
text: Introduced in House