This bill requires the President to submit the annual federal budget to Congress by the first Monday in February each year, with financial penalties for missing the deadline. If the President fails to submit the budget on time, the President and all cabinet members would be prohibited from receiving salary payments. To comply with constitutional restrictions on varying the President's compensation, the bill places the President's withheld salary into an escrow account starting February 6th, which would be released back to the President on May 6th if the budget remains unsubmitted. Cabinet members' salaries would be withheld outright with no escrow provision. The law would take effect for the fiscal year 2025 budget and all subsequent annual budgets, incentivizing timely budget submissions going forward.
Take Action
Your position
Add a comment
to comment on this bill.
Annotate the text
Highlight any passage on the Summary or Full Text tab to attach a note. Annotations appear on the Annotations tab.