Congressman Rod Blum Introduces Fiscal Responsibility Act
Measure would cut Congressional pay until budget is balanced
Today, Congressman Rod Blum (R-IA) announced the introduction of H.R. 4476, the Fiscal Responsibility Act of 2016. This legislation would cut the pay of Congress each year the federal government fails to balance the budget. Pay for Members would be cut 5% for the first year there is a budget deficit and reduced an additional 10% for each following year of deficit spending. Upon balance, congressional pay would reset to the original levels.
“As a career small businessman, I know firsthand the consequences when businesses mismanage resources. But unlike the private sector, Congress faces no penalties for failure,” said Congressman Blum. “Year after year we’ve seen the same thing: grand promises of future savings while our national debt continues to skyrocket. For the sake of our children and grandchildren who will be stuck paying off our $19 trillion debt, it’s time we make our politicians face the reality of our fiscal crisis by hitting them where it counts: their own pocketbook.”
Jim Babka, President of Downsize DC, added: "Congress manages your money poorly, yet it never faces a pay cut. In what other line of work could you so totally fail, but still get a generous taxpayer funded salary? Representative Rod Blum's Fiscal Responsibility Act would provide wonderful motivation to finally balance the budget, instead of kicking the problem down the road a decade or more."
Rod Blum is the Republican Congressman in Iowa’s 1st District. He is a member of the Budget and Oversight & Government Reform Committees.