The entire sitting body of Congress—both the House of Representatives and the Senate—shall not receive pay if the federal deficit exceeds 3% of the nation’s Gross Domestic Product (GDP) in any given fiscal year. Furthermore, all sitting Representatives and Senators shall be permanently barred from holding public office and lose all retirement benefits if the deficit exceeds more than 5% of the GDP. This measure is intended to hold all members of Congress collectively accountable for fiscal decisions, ensuring that the financial health of the nation is prioritized and that lawmakers are incentivized to reduce the deficit and maintain responsible budgeting practices.
Related Topics
Policy | Replies | Views | Activity | |
---|---|---|---|---|
Fiscal Responsibility and Accountability Act | 1 | 10 | November 12, 2024 | |
Balanced Budget Requirement for Re-election Eligibility | 0 | 4 | November 10, 2024 | |
Balanced Budget Proposal | 0 | 6 | November 11, 2024 | |
Fiscal Responsibility and Congressional Accountability Act | 1 | 17 | November 9, 2024 | |
Balanced budget act | 1 | 7 | November 22, 2024 |